Friday, December 12, 2008

GOP - Party of Herbert Hoover

Looks like any auto bailout deal is dead thanks to three idealist republican senators: Corker, Shelby, and DeMint. These three guys wanted pay cuts for unionized auto workers to take place next year rather than in 2011 when their contract expires.

Featherbrain Jim DeMint has actually predicted "more" riots if an auto bailout deal is passed.
“We’re going to have riots. There are already people rioting because they’re losing their jobs when everybody else is being bailed out. The fairness of it becomes more and more evident as we go along. The auto companies may be hurting,” he said, but “there are very few companies that aren’t hurting and they’re going to hurt. We don’t have enough money to bail everyone out.”
I keep a pretty close eye on the news, but I must have missed those riots that have already occurred. By DeMint's logic, the more people that lose their jobs, the less likely it is that they will riot because they unfairly lost their job. That sums up republican logic.

So we can look forward to a huge downturn in the stock markets today thanks to three guys who think believe cutting wages is the answer to saving our economy. It's a mystery why the rest of the republican congress went along with this madness - even G.W. Bush was in favor of this bailout. Dick Cheny, for gods sake, said "if we don't do this we will be known as the party of Herbert Hoover forever".

So, if we take the leaders of GM and Chrysler at their word, in a few weeks tens of thousands of auto workers and people who work for auto supply companies will be out of work. This should be great for the economy. But then again, republicans will have taught union members something about personal responsibility. I guess this is one way of busting unions and helping cut costs for big business.

It appears that only big finance companies and banks are worthy of being saved. Looks like Bush will need to use some of that $700 billion to save US automakers.

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