No Blank Check!

Wednesday December 3rd, 2008 at 6:1212 AM
Posted by: goofshow

Like a stern parent with an over-indulgent child who never seems to listen, President-elect Obama is already laying down the law with the U.S. auto industry. Addressing a press conference in Chicago, Obama stated that in order to keep the economy afloat he is firmly committed to make sure the U.S. auto industry doesn’t simply vanish, deeming it as the backbone of our country’s manufacturing base.

“We’ve got to make sure that it is there and that the workers, and suppliers, and businesses that rely on the industry stay in business,” Obama said. While on the same hand, Obama is not willing for we—the taxpayers–to pony up money for a $25 billion blank check to the Big 3 when they’ve been so resistant to change. As put in the Wall Street Journal, if Obama wants a sustainable U.S.-owned auto industry, will he require changes in the Big 3s management, labor agreements and cost structure in return for aid?

With the same scolding of a child who needs to take a time-out, Obama added, “I was surprised that they did not have a better thought out proposal when they arrived in Congress. I think Congress did the right thing, which is to say, You guys need to come up with a plan and come back before you’re getting any taxpayer money.”

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