First Bailout, Then Bankrupt
"I don’t get it. First, we’re told that we have to bailout the auto industry with billions and billions of taxpayer dollars because “bankruptcy is not an option.” Where is Chrysler today? Is there anyone who doesn’t believe GM will be in bankruptcy court soon?
After delaying the inevitable with billions of our dollars, President Obama today put another nail in the auto industry’s coffin by dictating tougher efficiency and emissions standards that will add thousands of dollars in new costs to every vehicle and make it harder for these struggling companies to compete in an economic downturn.
The tougher standards will also force the car companies to make vehicles that many Americans don’t want. Only three vehicles today could meet these new standards – the Honda Civic hybrid, the Toyota Prius and the Ford Fusion hybrid. Sure, some folks do want fuel efficient cars. But the auto companies make minimal profits on small cars – they make money on trucks and SUVs. Those were the vehicles Americans were demanding in large numbers until the Democrat oil embargo against America caught up to us and gas spiked to $4.00 a gallon.
But as usual, Washington learned the wrong lessons and is now imposing its ideas on the marketplace. Rather than developing our own energy sources, Washington is telling us to pay more for new cars and get less – less space, less safety, etc. It’s a prescription for disaster that will end up bankrupting the auto industry even faster or require the nationalization of the whole industry. "
Gary Bauer
Campaign for Working Families
"I don’t get it. First, we’re told that we have to bailout the auto industry with billions and billions of taxpayer dollars because “bankruptcy is not an option.” Where is Chrysler today? Is there anyone who doesn’t believe GM will be in bankruptcy court soon?
After delaying the inevitable with billions of our dollars, President Obama today put another nail in the auto industry’s coffin by dictating tougher efficiency and emissions standards that will add thousands of dollars in new costs to every vehicle and make it harder for these struggling companies to compete in an economic downturn.
The tougher standards will also force the car companies to make vehicles that many Americans don’t want. Only three vehicles today could meet these new standards – the Honda Civic hybrid, the Toyota Prius and the Ford Fusion hybrid. Sure, some folks do want fuel efficient cars. But the auto companies make minimal profits on small cars – they make money on trucks and SUVs. Those were the vehicles Americans were demanding in large numbers until the Democrat oil embargo against America caught up to us and gas spiked to $4.00 a gallon.
But as usual, Washington learned the wrong lessons and is now imposing its ideas on the marketplace. Rather than developing our own energy sources, Washington is telling us to pay more for new cars and get less – less space, less safety, etc. It’s a prescription for disaster that will end up bankrupting the auto industry even faster or require the nationalization of the whole industry. "
Gary Bauer
Campaign for Working Families
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