NO BAILOUT FOR THE BIG THREE

The United Auto Workers (UAW) union and executives of the Big Three Detroit automakers, were pushing for handouts in the form of our tax dollars.

Oh, HELL NO! Secretary Henry Paulson said today that the Bush administration does not support broadening the financial industry bailout to include automakers.

Instead, Paulson said Congress should change the $25-billion loan program for retooling factories to speed that money to the industry. "I know that automakers are important to the U.S. economy. We care about our automakers," Paulson said. But "the intent of the TARP," or troubled asset relief program, "was to deal with the financial industry," he said. Noting that Congress had already approved the retooling loans, "we have a viewpoint that that legislation could be modified." Paulson also said that any help for the industry "has to lead to long-term viability."

Thank you, Secretary Paulson for using common sense! Common sense is becoming extinct in D.C., where politicians are too loose with OUR tax dollars.

The crap trifecta (Obama, Pelosi & Reid) was really pushing this: Comrade-elect Obama was for the auto bailout. House Speaker Politburo Pelosi and Senate Majority Leader Reich Reid were drafting legislation that would've dumped $25 billion into the Big Three.

Miss Glock agrees with Paulson. Sorry Charlie... allow automakers to declare bankruptcy.

PEOPLE: Bankruptcy does not mean the end of a company. Under Chapter 11, the bankruptcy judge weighs the different interests of a company's creditors, labor unions, shareholders, etc. The resulting company will emerge leaner yet stronger.

D.C. was pushing this because bankruptcy would alter union contracts. A bailout won't. Labor unions spent over $385 million to elect Comrade-Elect Obama and other Democrats last week. They didn't pay out without expecting something in return. Let's see who else begs for money next.

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