Congressional Democrats like Nancy Pelosi and Harry Reid would love to send the crippled automobile industry $25 billion in loans, not to help America but to run interference for one of their major special interest groups: Labor unions.
Particularly, the United Auto Worker's Union, which has negotiated unemployment for 250,000 workers and perhaps millions more in ancillary businesses.
Sending even a single penny of taxpayer money to Detroit would be an act of utter foolishness because the Big Three pay some workers $75 an hour when competitors pay $40 per hour; pay upper management mega millions in annual salary and perks when competitors pay their best and brightest hundreds of thousands; and because Detroit produces a non-competitive, inferior product.
- Monday, November 24, 2008