Are Republicans Bailout Weary or Just Opposed to the Auto Bailout?
NPR told listeners to Morning Edition that Congressional Republicans were "bailout weary," and therefore may oppose the bailout of the auto industry. Not many Republicans have indicated that they intend to oppose any further bailout money be authorized under TARP.
It's certainly not obvious that they are weary of bailouts in general. It just seems that they are not anxious to help the auto industry.
--Dean Baker
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COMMENTS (7)
Republicans instead believe in massive state-level subsidies to lure foreign automakers to South Carolina, Mississippi, Alabama, and Texas.
Posted by: El Cid | December 11, 2008 10:33 AM
"It just seems that they are not anxious to help the auto industry."
Just like the overwhelming majority of the American people. Still can't come up with anyone who isn't tied to corporate interests who supports this. I think we all know that if the US was a democracy and people could vote on this it would be resoundingly defeated.
El Cid: why are jobs for people in Michigan more important than jobs for people in other states? Don't really understand that. And do you think that GM and Ford should turn down the massive subsidies that the Chinese have given them to build factories there? Or is it okay for American companies to take advantage of such practices in other countries, but not okay for foreign countries to do the same in this country?
Posted by: Anonymous | December 11, 2008 12:35 PM
The number of vehicles sold has diminished not only in USA but in many other countries too.
The people in USA will not buy more cars just because some manufacturers have received some money from the government. Thus, production have to shrink, want it or not, and many employees will loose their jobs, want it or not.
So, bailout or no bailout, the result will be the same. The only effect of a bailout, is to CHOOSE who will loose his job, which shops will close, and wich well paid administrators will loose their millions in pay.
It is not a question of being weary but a question of uselessness and of choosing who will be the losers and who will be the winners by the government.
It's a waste of people money.
Posted by: Gerry Flaychy | December 11, 2008 1:52 PM
700 billion 4 bankers went through Congress like a dose of epsom salts, no tears from Repub OR Dems. 15 billion 4 auto makers can't quite make it up the steps on 2 tries as the WHOLE nation rages and screams= MY BUDDY/NOT MY BUDDY. (I'm guessing its OLD MONEY v. NUEVO RICHE) "The most dangerous gang of all, old white money" Sam Crow- Sons of Anarchy.
Posted by: Mike Meyer | December 11, 2008 2:17 PM
Why do the Republicans hate Americans?
I think this behavior if tantamount to being a sworn enemy of the welfare of the American people.
Already the dollar is dropping.
The Republican notion that free market ideological purity is the most important thing for the American economy - from this bunch of cronies, charlatans, and Christianist clowns - is both tragic and a farce. At the same moment. I heard one of these thugs on the radio last night that he would never bailout the industry unless the union were destroyed. God save us.
Posted by: lark | December 11, 2008 3:11 PM
Anonymous has a point, but it does seems Republicans' (including many "libertarian paleo-conservatives") outrages in such matters are usually only effective against poor people, unions, black people and mexicans. They make noises about previous bailouts, but they seem to make special noises when it comes to these areas most of all.
Posted by: Charles | December 11, 2008 3:59 PM
Anonymous: Your question about the importance of jobs is just as applicable to you; why are non-union jobs in the South more important than union jobs in the North? El Cid's point is that the Southern senators are being hypocritical; that they are willing to protect and encourage direct government investment in corps through subsidies for car makers in their states, and yet they go on national television and grandstand about how 10% of the big 3's costs which pay their labor costs is somehow not only making them fail, but also the result of nefarious Union Communism which deserves to be stamped out.
If you're going to hand corporations money to operate in your state, use imminent domain to evict the people living in their chosen plant location, and deliberately pursue strict anti-union laws through appointed anti-union law-enforcement officials, then you are pretty clearly supporting an enterprise with government power. You can't do such things then go around talking about how despicable and "socialistic" unions are, and how companies that deal with them should fail.
If government subsidies are good enough for Southern car manufacturers, then they're good enough for Northern ones.
Posted by: Julian | December 16, 2008 1:04 PM