New Big Three Bailout…
Shame on us if we loose American Manufacturing!
I was watching the Rachel Maddow Show on MSNBC a few days ago[11.19.08].
A great discussion between Debbie Stabenow[D-Michigan] and Ms. Maddow developed, discussing the state of the Congressional Activity[non] and the merits of why the US should ‘bailout’ the US Auto Industry.
I am an avid news hound looking online and in print, as well as flicking thru the channels to find a decent, if not amusing coverage of the News. And, to my pleasure, I can find a little Oasis in the wasteland of corporate news, in The Rachel Maddow Show. Rachel’s recap’s of the days politics, are often refreshing, quick-wit fueled, concise sarcasm, that echo’s much of what I find in most sensible peoples, thoughts and conversations, on a relative daily basis. A kind of refreshing conversation that has for the past Seven years and Nine plus months, been somewhat lacking in the domestic pedestrian exchanges.
And yet, if the many Americans, found bustling down the streets, in the bars, teaching in schools, behind the wheel of a taxi cab, walking groceries to your car, filling your prescriptions at the pharmacy, shuffling home on the subway, delivering your mail, speaking thru the radio, writing on the web, talking on television, and not least of which, fixing your transmission- are in fact talking of needing the government to bail out the Auto Industry.
Why, has Congress given up the discussion?
Why, has Congress deemed the ‘Auto Industry Issue’ too insurmountable to warrant in depth discussion?
The governing body of this country has decided that the Auto Industry, need to present the Congress, with a viable plan to fix and regulate its own survival.
Is this the same government people expect to: shape and guide Big Industry’s, for the benefit of our society at large?
Congress has demonstrated, it is to have the media believe: Congress has no suitable plan for the near future- that Chrysler-GM-Ford, must collectively find an actionable incentive for Congress first, before being given a bailout. [noted as not being called a 'rescue plan'...look for that term to be used soon]
And yet…
The Auto Industry has asked for a mere 4% of the 700B Bailout Funds, as a Loan. Not, as a direct bailout.
A Loan, something that the auto industry would have to have the common courtesy to repay the American Taxpayers. Taxpayers, who ultimately will have the ’25B bill’ handed to them. A 25B dollar bill the Auto Industry will sign an I.O.U., to restore Middle Class working jobs, for Goods actually manufacturing on US soil. [how often can you say actually Made in the USA?]
Appx. 3 million plus jobs on US Soil, Hang in Directly in the Balance from a Congress that thinks it would better to, sit and wait, for possibly months to come to a vote to Help the US Auto Industry…. The same Industry that could in fact, actually get their requested 25B Loan out of ‘already’ approved congressional money allocated for the Auto Industry ‘by way of Congressional Green Initiatives’ set forth to bring the Industry forward, moving away from the addiction to Middle East Oil. A sentiment that has grown in leaps and bounds, each year since 2001.
It would almost be as if, we really had an Uncle[...named Sam?],
Who made a previous arrangement for us to go to College[...learning and implementing Green Initiatives],
Our benefactor Uncle[Sam] who would match us dollar for dollar for education[...congressional moneys set aside for the next four+ years],
The Same Uncle, who heard we had some money issues back at home[...the Auto Industry debt],
Who knew that if we didn’t take care of our finances[...appropriation of a Loan to the Auto Industry],
We might loose our jobs and couldn’t save enough to pay our share of the college cost. [Loss of possibly millions of jobs on US Soil]
[jobs directly related to feeding the mouths of children, paying for millions of roofs over heads, taxes for infrastructure that supports millions more people, i.e.. Police, Firemen, Hospital workers, City workers, Teachers, Students. And, all of the Already effected Disenfranchised who need help as you read this]
Why do we think it’s okay for Congress to choose to leave the fate of millions of Americans to the whim of the financial markets.
We know with greater chance, these Car companies, if left un-aided, could possibly succumb to their debt, and take such huge losses, completely devaluing their entire worth.
These companies could be left with stocks, already lowered-hovering fifty-percent of their prior value [as of the day writing this], possibly plummeting completely to Zero worth, and even the chance of going into negatives. A reality, that Bankruptcies of the US Auto industry’s giants, will spread even further dept into the sectors that have provided them with credit and manufacturing supplies.
Why would the US Congress, choose not to limit the spread of such economic turmoil?
Why would the US Congress, currently sit on a vote to save Millions of American Jobs?
Choosing ineffectivness, Just before our Sacred Cash Spending seasons….
Thanksgiving, Christmas, Hanukkah, and New Years?
Will those jobs still be viable to provide an income, to even consider having Happy Holidays?
MDP
I am convinced that American consumers can stop this recession dead in its tracks. While there are many great products made abroad. We also import a lot of crap for lack of a better description. In the process we have closed our factories for many consumer products categories and moved very close to becoming a purely serviced based economy. A country that manufactures nothing is doomed to permanent decline. Do you want to be left with a country where are kids are doomed to careers flipping burgers in fast food restaurants?
While we don’t have choices to buy American products in certain categories such as televisions, where choices are available, we must as consumer patriots think hard and fast about purchasing a foreign alternative. Sure, as individuals, we have the “right” to buy the very best for our selves, but we owe it to our selves, our fellow citizens and our children to make the sacrifice and buy the best possible American made alternative in available. When we buy American but we are helping support American jobs, American companies and our tax base. The more often that we do this, the closer we get to the resurrection of the American manufacturing sector. Paying more for American goods is a great long-term investment. With more Americans back at work, all of our businesses will have more paying customers. By purchasing the BEST AVAILABLE “made in the USA” product in a category, we will support the free market forces Darwinian forces that will bring about innovation and great new American products.
We stupidly ran off to Walmart the last 30 years and destroyed our manufacturing sector. We can fairly quickly undo the error of our ways by making a concerted effort to buy American. Pretty soon it won’t be a sacrifice to make that choice. Sure, we never will be the low cost supplier. We pay our factory workers an order of magnitude more than does China (and we certainly don’t want to fall to their standard of living). But, we can become the supplier of the highest quality and “best value for the quality” products in the world. Who knows, maybe we can even reverse the trade deficit and turn it into a surplus.
As a small shameless plug, my blog, http://www.AmericanBoom.com/blog is devoted to the rebuilding of our manufacturing sector by developing a grassroots effort to get everyone on board to “buy American.” We welcome contributing authors to tell the story of great innovative all-American companies that need our support.