One thing not in dispute in the debate over the automakers’ bailout bill is that Indiana’s economic well-being is heavily at risk if General Motors, Chrysler or Ford go out of business.
No one is arguing with the Economic Policy Institute’s estimate that a shutdown of domestic automakers would put nearly 150,000 Hoosiers out of work.
Like most Hoosiers, I don’t want them to lose their jobs. But I have some serious doubts about the bailout because it is clear Congress intends to do a lot more meddling in the auto industry than just loan money.
Rep. Baron Hill, who voted for the bailout bill, is leading efforts to sharply increase the so-called Corporate Average Fuel Economy standards for domestic automobiles. Under his bill, H.R. 2927, Detroit would be pretty much limited to building and selling Prius clones.
Hill is trying to do the impossible — save the auto industry’s high-paying jobs while at the same time forcing domestic automakers to build cars that many Americans don’t want to buy. Detroit is capable of making great cars and trucks. If it could get its labor costs in line with its overseas competitors, it would once again be a formidable force in the market.
But Hill and Democrats in Congress are not going to let Detroit build the kinds of cars and trucks that would truly be competitive. This is bad news for Indiana and nearly 150,000 workers who could successfully compete if Congress would just let them.
Todd Young, an attorney at the southern Indiana law firm of Tucker and Tucker, P.C., was born August 24, 1972, a fifth generation Hoosier and the second of three children of Bruce and Nancy Young. Young lived in Marion County for several years before settling in Hamilton County, where he...
TRUE BUT
At least you realize that nationalization of private industry is not the answer to competiveness in the world market or domestic for that matter. BUT.
Where lies the solutions my future Congressman....
Let risky business eat the risk, not the taxpayers. In REAL free market capitalism they fail & jobs (employees) go to a different sector in demand (profitable). Thus enabling us to compete globally & without stealing from taxpayers to pay for inefficient govt. jobs that could be handled at 1/2 the price to society.
America already has enough cars & we have enough of govt. control over private industry & prudent taxpayers $ going to inefficient private business sectors, namely in comtemporary America real-estate, finance sector, & pretty much every other sector that enjoys fat calories of pork being deposited by a Congress that has no sane monetary policy.
Solutions for the inflation & devaluing of our dollar (see USDX) is imminent & now rather then later when our $ is worth 50cents. Then do we take action?
We are not contracting (taking unbacked (fiat) $ out of the system but instead expounding the creation of fake $ into a system that already has enough of the latter.
I think we need to start educating the public about self-sustainability & such.
After the Stimulus (Spending) Package reaches a conference it won't be but days before it is passed.
Then it won't be but months before we realize what you learned when you were 6 years old, that adding to a problem does not yield a positive solution to the problem.
Inflation is Taxation, it just sounds better.
"Let the Markets be Free, Thus setting the people Free"
Brian "Hugo" Kloss
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