Libertarians for Ron Paul

Say No to the Auto Bailout

“General Motors, Ford, Chrysler and the United Auto Workers union are pouring millions of dollars into a lobbying campaign for a taxpayer bailout.”

“The money devoted to influence peddling in Washington would be better spent on improving quality and finding ways to reduce a bloated cost structure, but both management and UAW have decided that fleecing taxpayers is a better option.”

“A taxpayer bailout would be a terrible mistake. It would subsidize the shoddy management practices of the corporate bureaucrats at General Motors, Ford and Chrysler, and it would reward the intransigent union bosses who have made the UAW synonymous with inflexible and anti-competitive work rules.”

“Perhaps most important, though, is that a bailout would be bad for the long-term health of the American auto industry…”

Full post by Daniel J. Mitchell @ http://www.cato.org/pub_display.php?pub_id=9787