Kentucky Republican Senator Mitch McConnell included the following as part of his opposition statement to the bailout proposal for the auto industry, "We simply cannot ask the American taxpayer to subsidize failure." With that the bill to aid the industry was defeated.
However Mr. McConnell and friends already did subsidize failure by giving our taxpayer money to the banking industry. His statement is thereby reprehensible and absurd. Our leaders seem to forget their responsibilities and instead go for the quick sound-bite and 'photo op' in an attempt to show they are on our side and have a handle on things. In fact they do not and therefore nothing gets done. To gift $700 billion to institutions that squandered countless billions earlier without stipulation is irresponsible and criminal. As a result the money has not helped the economy. It sits in the pockets of greedy bankers and immoral CEOs to use as they please.
Both sides of the aisle and both houses of Congress are to blame for the continued sconomic nightmare. Where is the leadership we expect? The Big Three auto makers produce cars. Lately they have done a terrible job and are in immediate danger of going into chapter 7 liquidation. Obviously they are a collective failure. But cannot the same be said of Congress?
When Mr. McConnell's party took control of the White House in 2001 they inherited a surplus of $230 billion. Since then they have produced a deficit that now totals $800 billion. As of this moment the US National Debt Clock shows a total owed of $10.6 TRILLION. That is almost $35,000 for every man woman and child in America! I would therefore consider that a huge indisputable failure and yet we continue to subsidize Congress. After all how are they paid? Their salaries come from our tax dollars! And once they are out of Congress they and their families have healthcare for life, not to mention many other taxpayer paid benefits.
As a citizen I would hope for a more intelligent approach to our problems than having the pot call the kettle black. In this environment that is incredibly unproductive.