SEARCH BLOG: AUTOMOBILES
I receive emails on your distribution list and read the GOP alternative plan for the automotive industry. Neither the Democratic Party nor the GOP address the fundamental issue impacting the automotive industry: lack of liquidity in the credit market despite billions of dollars going to that market from the Fed.
If the government is not going to force the financial institutions into freeing up credit for both businesses and consumers despite a lack of oversight in the billions of dollars made available, then the government ought to put a hold on those funds and allow industries to borrow directly through the Fed.
Obviously, that won't happen.
Well, then, how about rescinding the $100 billion CAFE mandates? $15 billion in short-term loans for operations because of financial institution lock-up is, let's see, 15% of the mandate costs! Now that's something the Republican Party can address.
No? Well, how about a reduction of corporate tax burdens? Oh, wait, the corporations have been drained of their profits already. That must have gone to the financial institutions. You should talk to Sens. Dodd and Shelby about that.
Okay, I guess you are correct. There is nothing to do but blame the automobile manufacturers and tell them that they should fix the problem that they created.
We've got to have a plan to have a plan... or at least a plan to think about having a plan.