I'm reading about the big three car maker bailouts and I'm not sure whether I want to laugh or cry. I think I'm leaning towards crying. I understand that car makers circulate significant money through the US economy. My question is: aren't there a lot of businesses doing the same thing?
Are we going to see T.G.I. Fridays asking for a bailout next? Aren't they hit hard by the falling stock prices and the economy? It's pretty clear to me that people are going out to eat less. Why else would every restaurant want to save me money? If T.G.I. Fridays goes under, cooks and waiters will be out of business. Companies that supply Fridays with food will lose business. Surely Friday's is deserving of some money, right?
Let's take it to another level of absurdity. One of the first things that companies cut in the rough times is advertising. This blog is supported entirely by advertising. If there's no advertising, I make no money. If I have no money, I don't spend it on restaurants and other things. So, due to the poor economy should I get some bailout money? Wait a second, that's what the economic stimulus packages amount too, isn't it?
Maybe I'm just not very smart, but it seems like this just moves money around the United States. It doesn't seem to bring in new outside money. The Red Sox had general manager named Lou Gorman once. Whenever he couldn't make a trade to bring in a great player, he'd say, "You can't rob Peter to pay Paul." By this he meant that you always had to trade something of value to get something of value. So with these bail outs, aren't we simply robbing a nation of tax-paying Peters to pay a few car-making Pauls? Perhaps we should focus on tourism so that we bring in dollars from external sources.
I (and I'm not the only one) have a problem with people getting a break when they make irresponsible decisions. I think it sets a bad example for one. However, I also feel that I should be able to get the similar breaks if I need them - especially if I can show that I'm making smart decisions.
So how do you feel about these bailouts? Is there an end in sight? Where does the line get drawn?
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