There is much Democratic angst over General Motors and the prospects of Big Auto bankruptcy. My view: allow the bankruptcy to happen. The economic model enshrined in Big Auto is a dinosaur from the 1950’s and it is unrealistic to think that such a large corporation with a huge bureaucracy and an entrenched, corrupt union can ever compete in the global market. We can subsidize, bail out and protect till the cows come home – but it is certain that the American auto makers will have to undergo massive change.
Worse than the economic illiteracy involved in a Detroit bail out is the fact that our taxpayer dollars – already strained by the clearly-failing Wall Street bail out – will merely be used to prop up Democratic donors. Democrats could give a hoot about GM, but they do care very much to keep the UAW afloat because the UAW donated nearly $1.8 million directly to Democratic candidates in 2008 while also shelling out more than $9 million on other political activities which directly or indirectly aided Democratic political efforts. That is a lot of scratch, and the Democratic party doesn’t want this cash cow slaughtered.
We GOPers in our political wilderness at least have this advantage – we can’t get government swag for anyone, and thus we are now allowed to re-establish ourselves as the anti-corruption and fiscal responsibility party. We are, once again, the taxpayer’s watchdog.
Sorry, GM, but it was your own fool decisions which got you into this mess. Everyone has to start thinking, and no better place to start than in that monument to liberal and corporate failure, Detroit
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