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?