|Christmas is a time of giving, but billions of dollars?|
By Jan Schultz, The Imperial Republican News Editor
While it is the Christmas season of giving, what’s going on in Washington D.C., right now with prospects of a $14 billion bailout of the car industry has taxpayers a bit uneasy.
No one wants to see people lose their jobs in masses, which is what the Big Three CEOs say will happen if the major car companies don’t get the billions they say they need to keep them afloat.
To clarify, and if I can correctly get through all of the propaganda and double talk that’s come with this issue, the latest request in the bailout is for $14 billion in emergency loans, versus a previous $34 billion request in loan guarantees.
A new Washington Post/ABC News poll continues to show most Americans oppose a government-backed rescue plan for these companies, although that percentage has dropped since the request was lowered.
According to the National Review, there are five million workers supported by the auto industry.
I would guess, however, there are also millions of other workers in this country who have been affected by today’s economy, and may have lost or will lose their jobs in the coming months.
Does that make those individuals’ job losses any less traumatic, even though they may only be one employee in a small business?
Those small business employees, or even others who work for larger firms and don’t have the lobby-driven clout in Washington like the car industry does, also must face the prospect of looking for a new job, or being retrained for something else.
What worries me more is the precedent this bailout will set. Where does it stop?
Yes, the government bailed out the financial sector earlier this year, but giving money to each industry that’s having problems will have a snowball effect.
How do you say no to all the other businesses hurting?
Maybe you received the same email I did, warning about buying gift cards this year, because of a long list of stores and retailers who plan major cutbacks in a number of their stores, or are closing all together.
Stores like Eddie Bauer, Footlocker, the Disney stores, GAP, Ethan Allen and even JC Penney are reportedly planning to close some of their outlets. Stores like Linens & Things are closing all of their retail outlets.
Are those employees less important than those who work in Detroit?
Will those store closings and loss of jobs not affect the economy?
I read one tongue-in-cheek comment about the issue on the web that said, “If we are in a bailout mood, I want a brand new laptop and all the fixings.” He then proceeded to list his address.
I think that says it all.