Are you as concerned as I am about what is happening to our United States of America during this lame duck period waiting for the next Administration to take the reins of power?
First it was the financial institutions, then the mortgage houses, next our largest banks, and now the Big Three automobile manufacturers getting huge infusions of printed taxpayer dollars into their accounts. Little or no oversight was attached to the bail outs, until the media finally brought the ire of the taxpayers to the attention of the all knowing, all powerful politicians sitting on their thrones in Washington. As I write this commentary there appears to be Congressional agreement on some sketchy terms to the automobile company grants, and now the Senate denied passage of the proposed bill. Apparently the White House will now bring forward a proposal that will temporarily save the auto industry from bankruptcy.
There are plenty of places to point fingers for determining the source of our financial chaos, and there is little or no indication that anyone will be held responsible, let alone be brought before the Halls of Justice. Don’t you find it amazing that our elected leaders again are pointing fingers in every direction, but at themselves when they had the oversight responsibility in the first place?
Where was the oversight that is the responsibility of both Senator Chris Dodd (D-CT), and Congressman Barney Frank (D-MA), as well of every member of their Committees? Additionally, where was the Bush Administration’s oversight?
Late in the night when I am trying to go to sleep, I keep thinking about this entire mess, and I just want to puke. Don’t you? How long will it take for the individuals who elected these incompetent legislators to wake up and initiate the appropriate action by voting these enablers out of office?
I see this country sliding down a very slippery slope toward socialism. We are daily nationalizing our major businesses by the government throwing out vast sums of money, taking substantial stock positions, and now dictating the way the business is to operate on a daily basis. Tragically, our government has a very poor track record running its basic business. What is the difference from what we are currently doing to American business than what has been done for years in China and Russia? Once the government is into the pocketbook of business when will they ever get themselves out? Once a tax has been imposed just how many do you recall being rescinded?
The same government that is telling American business how to operate helped create this economic mess, created the massive deficit, robbed the social security trust fund, and is riddled with unethical, cheating members.
Many of our political elite have sold their souls to the union movement, and thus cannot take the appropriate action to address the automotive companies root problem, namely excessive labor compensation obligations. Until that issue is resolved the Big Three auto companies will fail, because they are not competitive. It seems our government is proposing a stop gap resolution that is doomed to ultimate failure because it does not resolve the root problem.
I do not like the idea of bankruptcy for one minute. It is against my core values, but it may be the only answer if we want an American auto industry. Maybe a federally regulated hybrid type of bankruptcy as proposed by Senator Corker (R-TN) would be more palatable. I suspect that the current Congress and the Bush Administration are trying to provide a temporary funding bill that will put the problem into the hands of the next Administration, which is definitely beholding to the Unions that were major supporters. The new administration will support the Union Check-off Bill, and then the Unions will be paid off for their campaign contributions. This is not sad; it is disgusting because it is only in the interest of a select group, not the nation’s best interest.
The massive amounts of money floating into, and out of government are destroying our country. Just look at what has now been disclosed about the Governor of Illinois. I lived in Illinois most of my life, and I am certain that this story has long legs, and tentacles that will be far reaching. Only time will tell, but I can assure you that nothing will improve until the electorate takes some logical and objective action that demands ethical conduct by all our elected officials.
You and I are the responsible individuals that permitted this rotten situation to fester and persist. We cannot clean this situation up immediately, but over a few years we can root out the true sources of criminal political conduct.