Bailout???

With the economic structure of this country hanging by mere threads and a worsening Recession looming around the corner, the Big 3, are meeting with lawmakers on Capital Hill to push for a bailout of the failing auto industry. Free enterprise and Capitalism have made this country. We did not become a world power by flaunting socialist ideals or communist policies. These continued bailouts by the government, funded by the tax-payers, are looking more like socialist principles as each day passes and more money is thrown at the problem. However, I believe the problem is temporary, and can be fixed. Though we have never been a pure capitalist society, we have got to have smaller government running our lives and involving itself in our personal affairs. There are only a handful of private sectors that the government should have its hands in; the most important being healthcare. With the $700 billion approved in October for a federal bailout of the failing banking industry, it is understandable that the people are weary of giving more money that may not “trickle down.”
Senators are holding a hearing in Washington with the heads of the Big 3: General Motors, Ford, and Chrysler. These three companies represent the American Automotive Industry, a long-time staple of the American Economy. Normally, I would support letting a business fail. Short-term failure is normally followed by long-time growth. When an industry fails, it usually leads to newer industry, newer technology, and a log-term increase in employment. It also forces workers to keep up their skills and learn new ones in order to compete in the growing markets of the newer industries. While I believe these principles to be true; however, the automotive industry is too large and supports too many people. If we allow the auto companies to fail, unemployment will hit record highs. Jobs will be cut across the board. This will affect not only the companies directly, but also the companies who supply parts, and materials. If the auto companies fail, we will be completely dependent on foreign vehicles, and if our relations with those countries ever get strained, we could be in for the fight of our lives.
The resiliency of the American people is astounding, we can bounce back from anything; we have done it time and time again. If we allot $25 billion to each of the Big 3, and make sure they know that it is a one-time bailout; we will bounce back from this as well. The companies will have to start making more efficient vehicles; abandon their fetishes for SUVs and other compensatory automobiles, and manufacture cars and trucks that rival their foreign competitors. When you consider that we have allotted $700 Billion for bailout, $75 Billion for the auto-industry seems like a drop in the bucket. We could take the $75 Billion from the original $700 Billion and attempt to save the long-time symbol of American pride and entrepreneurship. In consideration, the US government, at the behest of Treasury Secretary Henry Paulson, gave $80 billion to the insurance magnate AIG. In return for the money of the American people, AIG took their upper level management for an all expenses paid retreat. In addition to AIG, Fannie Mae and Freddie Mac received bailouts, and gave billions of dollars in severance packages to their CEOs and CFOs. So long as the bailout of the automotive industry is done cautiously and with pre-conditions to the companies; it should be supported. Let’s support those workers, stifle unemployment, and rebuild our country. It’s time we set aside the nightmares and once again concentrate on the American Dream.