12 November 2008

Hey Congress: This Is America

I feel like Congress is missing the big picture. Why is there any discussion about a Big 3 Bailout? It seems clear to me: Detroit needs help. General Motors can't stay afloat financially for the rest of the year -- and there are less than two months left. If cars aren't put together, car parts won't be manufactured. Millions of people will be dumped into an already overflowing pool of job seekers. America has the problem. American lawmakers have at least a temporary solution. Seems easy enough, yet it's getting to the point where lawmakers need a letter to encourage them to do what's best for the country.
Why are there doubts now? Why for the blue collar workers? It was all the rage not to long ago to take $700 billion for banks and lending institutions, despite their having profited from predatory lending. There was bipartisan support. President Bush sent messages to lawmakers through news conferences. It was an overwhelming thrust to spend money the country didn't have. I was against the $700 Billion Bailout, and I still think it's a bad idea. But the deal is done. It's too late to go home, so we may as well go big. There are still $350 billion in Congress' control. Detroit is dying. And lawmakers are dragging their feet.
But AIG got another $40 billion. And there was a $363,000 conference to commemorate it. Way to go.