Today I was reading about how the auto executives went to Washington DC to address Congress and ask for money for a bail out. The sad part is they all flew their private jets to Washington to ask for money because they are going broke. Now I find it a little funny and really sad that they would spend $22,000 on a private jet when they could have spent $1,200 on a first class ticket or better yet $500 for coach. Now if you wanted a hand out don’t you think you should show that you are willing to make cuts to justify someone giving you money?
Now I know how much the auto industry affects the US economy. All you have to do is look at the stock market right now. I have lost a lot of money and I think it will get worse no matter what happens. Now as I see it if we let them go bankrupt then they can renegotiate their contracts and they can work out a plan that will make them better able to compete on a global scale.
If we just give them the money then there is no reason for them to change and they can just continue as they have been going. I believe that in another 5 years they will be in the same situation and will be back for more money. There is an old saying that fits this perfectly. Give a man a fish and you feed him for a day, teach him to fish and you feed him for life.
We need to cut the apron strings that these big corporations have become accustom to in recent years. They keep doing business as usual and know that when they screw up the government will bail them out. It would be the same as one of us going to Las Vegas and gambling all our money. If we win we become rich and if we loose we ask the government to bail us out. It is a no loose situation. They need to know if they make bad decision then they loose no safety net. Maybe this way they will not take as many risks.
Letting them go bankrupt will be hard in the short run but I think it is the way to go. Let’s take our lumps now and get this behind us and move forward. This will also send a message to other corporations that we poor tax payers will not be there to bail them out.
Now on the same note the government needs to know that we as tax payers will not put up with this wasteful spending. They spend our money without any regards for the hard working Americans that give it to them. I think they would change how they spend money if it was all theirs.
My last word on this is I hope they have the back bone to stand up and do what is right. If they are unable to do this and look out for us then we should elect some that will.
