Bail Out Everyone
Are we even seriously considering bailing out the U.S. auto industry? Their financial woes are largely of their own (and unions’) making. Where does this insanity end? You make bad decisions, you suffer the consequences. Every industry has ups and downs. Even in a strong economy it’s a bad idea to prop up poor management. In a downturn it’s disastrous. What’s next? The mining, timber, electronics, and semiconductor industries are hurting as well. I suppose it’s only logical that we should shell out billions to keep them all going as is instead of forcing them to make tough (i.e., good) decisions and restructure their businesses.
At some point we have to make grown up decisions. If the domestic auto industry completely tanks, there will certainly be a lot of people hurt. We must,however, get away from the welfare mentality and ask what’s good for the country. Corporate welfare is not, particularly when it comes at the cost of continually increasing federal debt and placing that burden on future generations (since ours certainly won’t be able to pay it off).
Back to basics, folks. Personal responsibility. Consequences.