I just got a letter from one of my Congressmen telling me that he is in favor of a certain version of the “stimulus package” that leans toward lower taxes instead of increase debt through the dispersal of inflated monies. Here is my response to him.
Congress wants our opinion on the requested auto industry bailout.
DOES THE AUTO INDUSTRY NEED A BAILOUT?
The big three automakers say they need $25 billion in emergency short-term loans to avoid bankruptcy. Opponents say we shouldn’t reward poor management. Some in Congress say if we do provide loans we need to attach conditions such as environmental regulations or management changes. Tell Congress and President George W. Bush what you think.
I should not need to remind anyone, but the following is my own opinion.
You mess with nature, you reap the storm. Survival of the fittest. If a company is going down, they need to go down. Bailing them out will not teach them anything. If we give our kids everything, they will not learn to earn it on their own. How many more cliches need I quote? Bailing out private companies just sounds like a bad idea all around.
My wife pointed me to the site of our good friend Dave Ramsey who says it all a lot better than I ever could.
Years of bad decisions and stupid mistakes have created an economic nightmare in this country, but $700 billion in new debt is not the answer. As a tax-paying American citizen, I will not support any congressperson who votes to implement such a policy. Instead, I submit the following three step Common Sense Plan.