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  • Theft Done Right

    George Mason’s Don Boudreaux has a snappy response to Center for American Progress suggestions that If It Happens, The Auto Industry Bailout Needs To Be Done Right:

    While it’s true that some ways of bailing out this industry would be less harmful than other ways, there is absolutely no “right” way to do it. To advise government to do the auto industry bailout “right” makes as much sense as advising a burglar to burgle the neighborhood houses “right.”

    And don’t think for a second that this is the first, or last, time the auto industry is gonna stick us up. The Washington Post reported yesterday:

    The $25 billion would come on top of $25 billion in low-interest loans Congress approved in September for the car companies to retool factories to produce more fuel-efficient vehicles. And the United Auto Workers plans to press next year for an additional $15 billion in public funds to cover the first payment the three companies are due to make into a new independent entity that will fund retiree pensions and health benefits.

    With the left now in power, these bailout/robberies will never end.

    Posted in Economics [slideshow_deploy]

    2 Responses to Theft Done Right

    1. kent/virginia says:

      Let the automakers declare bankruptcy and reorganize. Yes, it will cost jobs initially, but even with a federal bailout automakers will have to cut their workforce. Also, with the economic slide that will only speed up when the Pres.Elect takes office, unemployment will be in double-digits by spring anyway. Both the airlines and the auto industry have proven in the past that a bailout is a band-aid, how many times must taxpaying Americans have their elected representatives misspend their hard-earned money for them?

    2. Jen/California says:

      Excellent advice Kent from Virginia. I agree completely. It's absolutely unconstitutional how Congress is spending taxpayers money to benefit a particular industry/group of people, where they have the power to spend money only as it benefits the entire population, as per the US Constitution. Our lawmakers continue to re-interpret the Constitution instead of defend it. We need to educate the voting population to get these lawmakers out and put in politicians that will work for us and not against us.

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