Barack Obama is proposing $4 Billion in aid to the automotive industry, aid that John McCain is opposed to, and for good reason.
Obama pledges $4b in aid for Detroit automakers
After nearly eight years of getting little or no attention from the White House, it seems as though Detroit’s automakers will be a major focus the 2008 Election. With the economy looking worse by the day, lawmakers in Washington have been kicking around the idea of a second economic stimulus package to get people shopping again, and Mowtown’s lawmakers want in on the money.
Years ago, the Japanese suffered an extended recession because they did this very thing, only on a larger scale. Bankruptcy was considered a national dishonor. Good money was sent after bad; public money at that.
Over the long haul, our economy is much more resilient because we (at least those of us that understand economics and the free enterprise system) understand that failed management teams or business models should not be put on life support. The talent and capital should be free to seek its best and highest use – and without delay. That is why our recessions are typically limited in length and in fact many times our economy comes roaring back afterward.
No one celebrates the Enrons or the WorldComs of the world but we are strengthened by the lesson and can at least take comfort in the fact that the suffering and devastation ended as soon as possible.
Putting our automotive industry on life support will only delay the inevitable. Ford, GM and Chrysler need to reinvent themselves or get out of the way. Don’t think that large trucks and SUV’s sitting on dealership lots is their only competitive disadvantage. They suffer far more from a legacy of arrogance and overpriced labor and benefits force fed by unions acting in their own interest, and not that of their members or the domestic automotive industry.
Presumed Republican nominee John McCain opposes the idea of federally backed loans, but he does support tax breaks to those that purchase fuel efficient vehicles and a $300M in prize money for electric battery powered vehicles
Obama’s proposal is either politically-motivated, ignorant or most likely both. Obama, having no other tools at his avail, thinks the answer is government welfare. McCain understands that the best way to stimulate our economy is to incent innovation and new solutions.
As the economy is almost surely to become the electorate’s chief concern, McCain would be well served to exploit this opportunity to explain to Mr. Obama how and why capitalism works.
Mitch explained: “McCain would be well served to exploit this opportunity to explain to Mr. Obama how and why capitalism works.”
“First thing you do is divorce your wife and marry a new wife with a rich dad.”
Thanks, Mitch. Obama will probably talk to Warren Buffett or somebody who’s actually made some money in his career. Maybe McCain should do something simiilar. At least find somebody a little brighter than Phil Gramm.
BigotClown, if you take a close look at McCain’s financial statements (available from the Washington Post and elsewhere), you’ll quickly see that the Senator from Arizona has handled his money far better than Obama, whose tax statements until 2005 neglected the fact that banks pay interest. Don’t forget that he keeps his finances separate from his wife’s in part for this very reason.
And yes, “BigotClown” after the stunt you pulled with Roosh’s post.
angryclown wishfully said:
“Obama will probably talk to Warren Buffett or somebody who’s actually made some money in his career”
Oh yeah, that will happen. It just hasn’t happened yet because…
Troy, it’s called “Google.” Try using it *before* making a fool of yourself:
http://www.iht.com/articles/ap/2007/08/16/america/NA-POL-US-Obama-Buffett.php
This one is easy. Obama is dangling a $4B “save our jobs” carrot in front of a couple hundred thousand UAW members a.k.a. potential voters. Of course, the vast majority of them are already lifelong DNC drones, so it won’t make a lot of difference in the final vote tally.
Quid pro quo at its finest.
Say, isn’t Buffet one of those stock speculators?
If McCain announces Gordon Gecko as an economic advisor he’ll regain the clown vote. Greed is good!
Crikey, Terry, I thought you were the one guy who resisted piping up when you know exactly zilch. Buffett is exactly the opposite – the patron saint of value investing. He invests in companies that are undervalued by the market, holds ’em, makes a buttload.
Oh, and yeah, anybody who talks about paying public money to prop up the U.S. auto industry is pandering to get votes in Michigan or Ohio. You know, like your guy did in the last election. You wingnuts seem shocked whenever Obama shows he’s got game. Normal people ignore you.
Better listen to Clown… if there’s one thing he knows (and that’s probably all he knows), it is pandering.
His guy? A man of the people: J. Kerry.
So, let me see if I have this correct, AC.
When a Democrat pours tax dollars in to prop up a business, he’s “got game”…but when a Republican does the same thing, he’s a proponent of pandering to “big business”.
What happened to the hatred you moonbats harbor for corporate welfare, Clown? How are you goofs ever going to see the revolution through when you’re busy hopping into the sack with the military-industrial complex?
Fuckin’ reactionary, we’ll stand you up against the wall when the people take over!
Hatred? Angryclown reserves his hatred for the bin Laden and the Yankees.
You wingnut kooks made your beds, Swift One. Looks like you’re gonna have to sleep in ’em the next four to eight years.
He invests in companies that are undervalued by the market, holds ‘em, makes a buttload.
By God, you’re right, AC. I had Buffet confused with Soros.
So you’re saying he did it already (as opposed to what you said) and it didn’t do any good, right angryclown?
I don’t really care who he has talked to if his policies are still retarded afterwards. *shrug*
Awesome save, Troy! Obama talked to Buffett in the past. I expect he’ll talk to him in the future.
You might not want to wait by the phone, Troy. Cause you’re not so big on the smartness and the thinking.
I get by, angryclown, but I am not all that interested in Barrack’s and Warren’s BFF status if the relationship has had no visible effect. It’s different for you, I understand, but I think that’s just because Warren is your idol.
P.S. – I checked your link and got a good laugh at the headline:
“Billionaire investor Warren Buffett says Obama will bring ‘outstanding ideas’ to White House”
and not one “outstanding idea” is mentioned in the article. He just can’t seem to leave the DNC chairman/cheerleader job behind him, can he.
Honestly, Trojan Man, you’re almost completely unintelligible. FYI, Howard Dean is chairman of the DNC. Different guy.
No, I mixed him up with his doppelganger Terence Richard McAuliffe, and I think ‘leaving something behind’ implies it was a previous position. I was wrong on that regardless, but I hope it makes more sense now. I plead “up past my bedtime”. 🙂
I was just going to Checker Auto for epoxy to reglue my rear view mirror on my 1990’s Chrylser mini-van.
Didn’t they already get a bail-out once?
When do I get my share of it? Will it be enough to replace my vehicle, or at least enough to pay the St. Paul city sales tax on it?
Yes, my vote can be bought. But I don’t come cheap. Pony up, O-boy.
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