Bachmann really hates bailouts
When Rep. Michele Bachmann finds a fight, she doesn't let up. This time it's the bailout. She was against the bank bailout this fall and is now strongly opposed to bailing out the Big 3 automakers in the country. Bailout is the Word of the Year so let's keep talking about it until our heads explode.
Here is what Bachmann had to say in her blog post on The Hill :
Past bailouts have thus far failed. Whether it was Bear Stearns or the larger Wall Street bailout, these government handouts have not done what they promised. There's no stability in the marketplace. The Dow continues to plummet or yo-yo, at best. The only goals the bailouts have actually accomplished are to anger the American people and leave them -- and their children -- to foot a massive bill.
Next week, the Democrat-controlled Congress is expected to call Members back to Washington, with President-Elect Obama's blessing, to consider a second auto industry bailout. Yes, that's right, a second one. I understand that our nation's auto companies are hurting and that times are tough for many of its employees. But what these companies need are restructuring not bailouts.
The Big Three must readjust their product plans to create vehicles that Americans want to buy. The issue isn't that individuals are not purchasing cars; it's that they are not purchasing American cars. Foreign companies are unveiling vehicles that Americans want to buy. They're using technology and marketing that works. And because American auto dealers costs are so much higher- an estimated $2000 more per car- their competitors are able to put in more extras without pricing their products out of the market.
Read the rest here .
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