Thursday, December 11, 2008

Senator Bob Corker Offers An Alternative To The Current Automaker Plan...After The Filibuster

At least some of the senators are "getting it"...from their constituents. It's a double-meaning message which not only says WE THE PEOPLE do not want the automaker bailout, in its current form, but also that WE THE PEOPLE are tired of sending spokespersons to Washington who have "hearing" problems. Let's face it, the inevitable downsizing of the U.S. automakers is coming. I had much rather see them face the restructuring music now, under Chapter 11 guidelines, than later after billions more taxpayer dollars have been spent. WE THE PEOPLE get no satisfaction knowing the money comes from the pot rather than the kettle. Now, some are concerned because of the loss of jobs. This too must come to pass. Think of the amount of people who will experience job losses if the they completely fail, due to denial of the need to restructure and the need to get the UAW off their backs. It's almost like they have grown accustom to the UAW appendage and will truly mourn its amputation. The United Auto Workers are so far not interested in giving more than lip service to the Big-3's plight. Do they not realize that Chapter 11 downsizing for the automakers means size reduction for them, as well? President-elect Obama got his new "title" due to the Unions; Pelosi, Frank, and Reid are also mighty friendly with them. Of course they are singing a song of woe. Republican Senators are the primary cause of the voting block, however, some patriotic Democratic Senators are also seeking amendments to the "handout". Thankfully, the Super-majority did not materialize or we would not have the continuation of the filibuster option which keeps things on an even keel. Republican Senator Bob Corker has proposed an alternative to the current automaker plan. He feels the federal government should loan money to the automakers under certain conditions: General Motors and Chrysler must agree to filing bankruptcy if their debt is not cut by two-third by March 15, 2008; bondholders and unions should agree to take stock in the Big-3 rather than some of the current cash payments owed; additonally, he wants renegotiations of autoworkers' contracts in tandem with pay and benefit adjustments (more in line with foreign automakers' wages). Another Democratic supported amendment would allow tax credits to those who purchased American-made cars. I am so proud of those who are "seeing the light" and acting responsibly. Senators, hold your ground...which is taxpayer generated.

Note: America should not be a salvage yard for the current auto bailout.

May God bless America...and may America deserve it!

Zanne Booker 12-11-08