As the economy nosedives and tens of thousands of American workers are being put into the streets unemployed, one is willing to go a long way in supporting measures that appear to save jobs. Over the years, I have not been a fan of bailouts and the corporate abuse that usually leads to them. It always amazes me when some right wing executives blast welfare/ disability abuse while having their hands out for more and more taxpayer dollars. The fact is that already we subsidize corporate America with hundreds of millions in tax breaks and incentives.
However, the image of tens of thousands of auto workers losing their jobs, pension funds disappearing and health care benefits to thousands of American families being lost, - not to mention potential federal taxes paid - is enough to cause an individual to review past beliefs and positions. UAW and other union workers, many of them for several decades, have steadfastly stood on the assembly lines for at least eight hours a day, making the product handed to them and kept America working. Many have spent years planning for that pension and counting on the companies taking care of their healthcare. Over those years, these workers have, at times, made concessions and stood by their companies in their times of need. These are the kind of hard workers that make us proud of the American workplace. It is clear the employees are not the problem here. It is the executives -- the CEOs and the hundreds of faceless and clueless "Vice-Presidents" that have made astonishingly bad decisions and bad policies. And bad cars.
So, given the loss of jobs and attempting to stop the bloodbath that is becoming the American economy, I was prepared to forcefully advocate for the bailout package for the big three auto makers. That was until I heard the outrageous and disgusting testimony in Congress the last couple of days by the executives of those companies. None of them had a plan. None of them could tell Congress how they came up with the figure $25 billion - a total they appeared to have made it up out of thin air. None of them could assure us that the sum would be enough. None of them could tell us how they would spend it. And all of them arrived in Washington on private corporate jets costing $15,000 roundtrip each.
The CEO of Chrysler said he would be willing to work for $1 since he had already made enough in his job. He is to be praised for that willingness. However the CEO of Ford made clear no one was touching his executive compensation package which is nearly $10 million a year. Well. That should set a good example for workers to make sacrifices, shouldn't it?
The Congressional Democrats are right on target. No money until there are plans, ideas, proposals, budgets and just good old fashion common sense.
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