Now that I am back from a wonderful vacation in Italy with my bueatiful (pictures are coming of the trip as soon as I get the chance to edit them down to size), it is time to get back to some serious stuff.
As you know the bailouts keep piling up and anyone who reads this blog knows that I am against them all. I am against them for multiple reasons. First, these are all panic driven “Let’s make it look like we are doing something” measures that cost a fortune and do not even address the issues that got us here in the first place. Secondly, why is the American taxpayer liable for bailing out failed business policies?
Take for example the Big 3 Auto Industry bailout that Congress is working on. The Big 3 (Chrysler, GM and Ford) are asking for Billions of dollars worth of taxpayer money in the form of loans; yet they have no plan on addressing the issues that have made them unable to compete in the global auto market.
Foxnews.com has this article that shows just one of the facets of a failed business plan that could have you and I (and most likely our children and their children) paying for years:
Thousands of laid-off auto workers get paid $31 an hour to sit around and do nothing all year under a controversial program that could continue even if American taxpayers bail out the American auto industry.
The program, called “Jobs Banks,” has been around for 24 years. Some of the employees at jobs banks choose to do community service, but others do crossword puzzles and watch TV all day — or just stare at a wall. If you’re a laid-off auto worker, it’s what comes with your pink slip, thanks to a deal struck in 1984 between the United Auto Workers and the Big Three carmakers.
And they wonder why they are facing bankruptcy.