Scott Conlon

Despite the opposition from the majority of Senate Republicans, the Democrats and the Bush White House have pushed for a $14 Billion bailout of the big 3 auto makers in the US. The emergency loan program will require the auto makers to restructure their businesses and become viable in the auto industry. One of the big concerns by many that are opposing the bill feel that the restructuring plans should be in place before the loan is given rather than quickly providing the loan and allowing several months before a restructure plan must be presented.

The government is on a spending spree and the Bush administration continues to drift further from the conservative ideals he once held. I understand the repercussions that could occur from not bailing out the auto industry but our country will not gain strength in the global economy if we continue to produce products that are not competitive on the global market. We need to focus on production that will increase our export goods. Investing more money on alternative energy sources, medicine, technology, machinery and innovation will be more beneficial than attempting to keep afloat businesses that have not been successful in the global economy.

I have mixed feelings about whether we should bail out the auto makers. I really do not think we should be bailing out businesses especially those that will take a long time to be viable and will require much more than the initial investment. On the other hand our economy does need a break to have a chance to recover before taking another big hit. Maybe putting the inevitable on hold will give our economy time to prepare for an end to our nations auto manufacturing.

The auto maker bailout has not yet been passed through the Senate. I do not think it will pass this time around but in the end will make it into legislature. Only time will tell. I am just thankful to be a young investor during these times of hardship.