Bush Is Right… Again

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We have to laugh at Congress. They appear to be great at blaming the Bush Administration for everything, but not much else.

The Big 3 Auto Makers need a bailout or they are going to likely go bust.  The Democrats failed to come up with a solution that was practical, but Bush and his team came up with a brilliant idea.  Use the $25 billion set aside for fuel efficiency loans.  It is already targeted to go to the “Big 3” anyway.  That bill could have been passed easily weeks ago.

Why didn’t it pass?  We are at a loss to understand any reasoning out of Congress.  The Democrats have fought this brilliant idea tooth and nail, but after they failed miserably at coming up with an alternative, they finally conceded defeat.  It looks, for all intents and purposes, that the bulk of that money will be used to help the auto makers.

We admit, we have reservations about a complete bailout of the auto makers, but using money that we would have given them anyway makes a great deal of sense!!  And having them pay it back makes even more!

Now if Nancy Pelosi, Frank and company would just use their noggins for a minute instead of bashing Bush, they may just come to the following realizations.

1. Oil has collapsed in price along with gasoline and all indications are it ain’t coming back.  Fuel Efficiency is not the issue, “it’s the economy stupid”.

2. What is the point of having US Auto makers make low quality high priced Prius look-alikes in a market that will want nothing to do with them?

3. Foremost, if the Big 3 fail, who will you give the fuel efficiency loans to?  Japan?

Is the Congress really this stupid or are they funnin’ us?

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6 Responses to "Bush Is Right… Again"

  1. Ranta   December 7, 2008 at 4:16 am

    Not so fast. Bush said he would veto any bill taking funds out of TARP. Either that or wait until Jan. 20.

    Reply
  2. John Wells   December 7, 2008 at 9:41 am

    You must have missed the part where it said “fuel efficiency”. That money was intended for a very specific purpose (research mostly) and there are ongoing programs that will require those funds to continue. Squandering it down the black hole of the big 3 accounting sheets while allowing the R & D to wither would truly be stupid. And if you think oil will remain at $50 a barrel I have a bridge in Alaska to sell ya!

    Reply
  3. frankisaputz   December 7, 2008 at 9:54 am

    I love that picture of Frank. LOL.

    Right on. People just plain cannot understand the complexity of bills, nor can they apparently read. The explanations about why this plan was so much easier to pass through Congress and why it could be done so much faster have been explained again and again.

    And still the Democrats did everything to fight it.

    I bet no single Democrat will even answer your last two questions. I will.

    2. No one will want American-made green cars, they will cost vastly more to manufacture and no one wants American made small cars now! Fuel won’t be high enough to justify their expense again for a decade, just like the last collapse in oil prices. Who in their right mind would buy a new Prius at a 25% premium to other small cars to save $5.00 a month in gas?

    3. Exactly, the money is already designated to go to the auto makers. If they go bust, what do we do with the money? Taking it out of a pool intended for the financial crises with specific requirements for qualification will take weeks or months. In the mean time, the auto makers shrivel up and die.

    Reply
  4. Randolph Scott   December 8, 2008 at 9:15 pm

    Bush isn’t right the Democratic house and Senate leaders are just
    inept. What they should have done is a Bust on the Big 3 and make them the small 12, force them to nationalize and build more plants, while at the same time cutting costs. They are all Idea-less.

    Reply
  5. truthynesslover   December 10, 2008 at 7:13 pm

    gee you guys never learn do you?

    fyi; interesting… “Over the past several years, the Government of Japan has engaged in at least four strategies to keep the yen weak and thus to provide an enormous subsidy to Japan’s vehicle and auto parts exporters,” said Mohatarem. “Japan’s policies provided anywhere from a $2,000 to $14,000 cash windfall for each of the 2.2 million vehicles Japan’s automakers exported to the U.S. in 2006,” continued Mohatarem. “This amounts in total to a more than $13.5 billion annual subsidy on imported vehicles and parts used to assemble vehicles in the U.S.” “This unearned windfall, which is documented in the profit reports of Japan’s auto companies, has been a major factor in the success of Japanese auto companies in the U.S. It has contributed significantly to the loss of hundreds of thousands of U.S. jobs in our auto and supplier industries; it is a major source of the nation’s nearly $90 billion U.S. trade deficit with Japan; and it has contributed to the severe economic decline in my home state of Michigan and in many other communities in America,” said Mohatarem. and dont forget the hundreds of millions they get from states to move there.May be if we has a president {like gore or kerry}who wasnt holding hands with saudi princes we could have had a better national policy and product.see how that works?no?
    p.s.

    thanks for the 2 unwinnable wars and the depression!

    Reply
  6. jay   December 11, 2008 at 1:10 pm

    yeah, amazing people would rather increase our dependance on foreign oil then to increase fuel economy. what about national security, do you want to fight a war in the future over oil when we could do plugin hybrids and cut 50% of our oil imports in the next 5 years. offer a tax credit to buy a hybrid. make a natural gas hybrid plugin! oil will not stay this low more than a couple years and eventually opec will get the cuts to jack it up. all the oil projects will now go on hold but the decline in output in existing fields will accelerate. This is a known fact, i read recently mexicos cantrall field is in huge decline and mexico will be an importer of oil in the next 3-5 years. they now export alot of oil to us. The big three made their mess and they need massive restructuring. they should be told to bring their european designs here…i’ll buy a car that gets 40mpg even if gas is $1. But, i wont buy a new car only getting 30mpg, when i can keep my used toyota. I want better before i buy new!

    Reply

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