After reading this post by Patrick J. Buchanan, I think Buchanan is not a fiscal conservative. However this comment posted by everyman is very interesting:
Any bailout plan I have read about so far appears to be a bailout of the UAW, not the companies. I MIGHT back a Big 3 bailout, IF:
1. The companies agree to restructure, including but not limited to new management teams.
2. GM in particular needs to downsize to perhaps three divisions: say GM, Buick, and Chevrolet. They then need to eliminate the duplication of models; can anyone really tell the difference between a GMC Jimmy and a Chevy Blazer?
3. The unions make concessions, not only on current wages, but on the killer retirement funds that add (I've read) $1500-2000 to each GM car.
4. Bring back Lee Iacocca from the dead. Reinvent the original Plymouth Caravan and the original Jeep Cherokee.
Giving the Big 3 without some concessions like this is a waste of time and money.
If Congress is determined to dole out $35 Billion or so without these concessions, they should do it by giving $35,000 each to 10 million taxpayers,allowing them to vote with their wallets onh who survives and who doesn't.
The ten million winners could be determined by a lottery run by the state of Illinois. The only requirement would be the filing of a tax return for the fiscal year 2008. The winners would be required to buy a car (any car, any manufacturer) within the next two months.
Gutted
2 weeks ago
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