As a conservative and a Republican, I congratulate President-elect Barack Obama on his victory Nov. 4. This is a milestone for America.
I do not, however, share his and the Democrats’ excitement in providing loans to American banks and automobile manufacturers, given the economic circumstances and the need for the market to freely correct its mistakes.
I say this with a heavy heart because I feel for those who are losing their jobs. However, many new companies will not come into existence until the poorly run companies either get their collective acts together or go out of business. As it is, all Americans’ taxes are going to go up just to pay the debts of shortsighted imbeciles. That is not fair to all of us.
General Motors, Ford and Chrysler could each file for Chapter 11 bankruptcy if that is necessary, which would allow them to get out from under the crushing weight of the debt obligations they currently suffer. This would allow them to get back to just making great cars and trucks without all the other social responsibilities they have accumulated over the last few decades..
The larger problem for American auto manufacturers is that Americans do not buy American. If we were to travel to Germany, we would see mostly German made cars on the road. If we went to Japan, we would find mostly Japanese cars on the road. Yet, foreigners must be amazed to come to America and discover that Americans prefer foreign makes over our own vehicles, though our American made vehicles are qualitatively competitive and well-priced.
Japanese and German citizens learned after World War II that they needed to rely on each other and help the people in their own countries. That means buying nationalistically because it’s smart. They learned that you don’t spend hard earned money putting your own people out of work. It doesn’t build up your economy. It builds the economy of your competitors.
This fact falls into the broad category of DUH! Perhaps through our current struggles we will finally learn to buy preferentially American and only incidentally foreign.
Craig Spicer
Lynnwood
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