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Saturday, July 31, 2010 - 6:10pm

Obama Defends Auto Bailout

President Barack Obama visited two Michigan automobile plants this weekend in order to defend his ridiculous bailout of the industry.  He focused on General Motors and Chrysler, which were the two firms he handed over taxpayer funds.  He criticized naysayers who wanted to let the companies fend for themselves and then touted impressive progress from the two.

 

Of course, President Obama  neglected to visit the dozens of non-unionized, auto plants in the South that have been doing just fine for years.  He forgot to mention that nearly all foreign car companies operate in the United States with American workers and none of them needed bailouts.  He also left out the part where government intervention in private enterprise is short-sighted and irresponsible.

If the President is going to bail out the auto industry, why not bail out every other industry?  The answer is that they're not union.  Democrats are bought and paid for by the unions and that includes our beloved President.  (if you'd like to point to the bank bailout, please bear in mind that it was George Bush that funded their incompetence).

The truth is that GM and Chrysler should've been allowed to fail.  Yes, people would've lost their jobs, but that happens with every company that goes bankrupt.  It doesn't mean the industry itself would disappear.  Rest assured that the number of cars bought in this country would not have declined had GM and Chrysler gone away.  Ford, Honda, Nissan, Hyundai, and Toyota would've picked up the pieces by ramping up production and hiring additional personnel.

The problem is that President Obama doesn't understand (or care) how the private sector works.  His administration should learn that less is more.  When the government intervenes, it almost always does more harm than good.

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