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Try a Little Honesty in 2009 - Why aren’t more of the fans of a Big Three bailout buying American?
National Review Online ^
| January 08, 2009
| Victor Davis Hanson
Posted on 01/08/2009 11:19:23 AM PST by neverdem
January 08, 2009, 0:00 a.m.
Try a Little Honesty in 2009 Why arent more of the fans of a Big Three bailout buying American?
By Victor Davis Hanson
The country is still divided over the government bailout of the Big Three automakers.
Mostly Democratic supporters cited the need to save jobs and ensure that a hallmark manufacturing industry remains healthy and American. Mostly Republican opponents complained that taxpayers were asked to subsidize serially incompetent management and a fossilized overpaid union workforce.
So here’s a modest suggestion for proponents of the bailout: Start buying American cars.
I travel frequently to bastions of progressive thinking — Boston, Los Angeles, New York, San Francisco, and Washington. From what I can tell, there is a lot higher percentage of BMWs, Lexuses, Mercedes, Toyotas, and Volvos on the road in these places than what I see in Fresno, Lansing, and Salt Lake City.
If you wish to subsidize with taxpayer funds money-losing, union-produced, American-made auto-manufacturing, then please buy more Chevys and Fords that now get as good gas mileage as their foreign competitors.
The current American gospel is “stimulus.” That is a new euphemism for printing more money. The latest round started with the financial meltdown in September, when the government decided to guarantee the solvency of banks and financial firms, and offer some loans to a troubled industry to jumpstart a stalled economy.
But in the last few months, the conventional wisdom has morphed into “Go big!” and provide trillions of dollars for “infrastructure investment,” more government programs, relief of consumer and mortgage debt, and aid to all sorts of weak industries.
Lost among the hysteria is the fact that all sorts of “stimuli” have already been in the works. The annual budget has been in red ink for years. Borrowing may approach $1 trillion this year. We already owe over $13 trillion to overseas lenders, and have vastly run up the national debt.
Don’t forget the crash in gas prices that has given American consumers a collective nearly half-trillion-dollar annual uplift. And both those who defaulted on their mortgages and those now looking to buy homes have been given plenty through renegotiated debt and cheaper housing prices — ultimately subsidized in part by those with decimated 401(k)s, whose values have plummeted to cover the debts of others.
Near-zero interest on passbook saving accounts and little interest paid out on government bonds also translate into trillions of dollars in subsidies for our economy. Both those with cash in the bank and foreign holders of U.S. Treasury notes are receiving little return on their cash investments, thereby ensuring American consumers historically cheap rates on their debts.
In short, we are pushing the rock so hard up the slope that we are oblivious to the danger that it is just about to go over the crest and cascade down the other side — in the form of roaring inflation.
Here’s another modest suggestion for 2009 for all those now calling for even more trillions of government spending: When the tab comes due in the form of slow growth, steep interest rates, and high inflation — what we used to call stagflation — please do not blame others for necessary higher taxes and government cutbacks.
A final suggestion for the new year. If we still wish to blame soon-to-be ex-President Bush for most of our maladies, then as 2009 unfolds let’s also stop for a second and ask whether hope-and-change President Obama is rejecting or continuing hated Bush policies?
Will he get out of Iraq promptly with deadlines as promised, or continue the unpopular Bush withdrawal plan? Will he overturn the Patriot Act, close down Guantánamo immediately, either try or summarily release detained enemy combatants, and revisit the wiretap FISA accords?
Will Obama “re-engage” with the Middle East, be more sympathetic to Hamas and the Palestinians and more evenhanded in the current mess in Gaza, or simply continue Bush’s strong support for democratic Israel?
The same question should extend to an entire range of issues, from drilling offshore, burning coal, and building nuclear plants to talks without preconditions with Iran and promoting missile defense in Europe.
If Obama follows Bush precedents, rather than his own campaign rhetoric, then Americans should at least consider that some of our policies for the last eight years have not been a product of Bush’s unhinged mind but simply a reflection of few good choices amid a host of bad alternatives.
Let’s try a new honesty this year. Buy American cars before asking others to lend their money to Detroit. Understand that if borrowing more money is now necessary, then so will be paying it all back later. And if Barack Obama keeps in place much of George Bush’s policies, then either Bush was right then or Obama will be wrong in 2009.
— Victor Davis Hanson is a senior fellow at the Hoover Institution and a recipient of the 2007 National Humanities Medal and the 2008 Bradley Prize.
© 2008 TRIBUNE MEDIA SERVICES, INC.
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TOPICS: Business/Economy; Crime/Corruption; Editorial; Politics/Elections
KEYWORDS: 110th; automakers; bailouts; hypocrisy; vdh
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1
posted on
01/08/2009 11:19:24 AM PST
by
neverdem
To: neverdem
Liberals and their Volvo’s....(eyes rolling)
And they give me a dirty look because of my H2?
Hell, I DID MORE for the UAW than any of them.
2
posted on
01/08/2009 11:23:29 AM PST
by
Badeye
(There are no 'great moments' in Moderate Political History. Only losses.)
To: neverdem
My next car will most likely be American. When my financial situation improves, that is. My current cars are American.
3
posted on
01/08/2009 11:25:44 AM PST
by
mysterio
To: neverdem
So long as I have the choice, I will not buy another vehicle from the "big 3". I will not give my money to support the UAW, which supports the democrats, who are raping and pillaging our country at an unprecendented rate.
They should have thought it out before they killed the equity value in my house, stole over half of my 401K, ran businesses overseas with excessive tax/regulation, and scared Wall Street and businesses into shutting down and destroying jobs.
I put the UAW in the dead center of that, and I will do nothing that supports them, if I have the choice.
Big 3 - move South, dump the union, and then see how eager the government is to bail you out...*crickets*
4
posted on
01/08/2009 11:26:06 AM PST
by
FrankR
(“Turtle up”, economically, for the duration of the 0bamanation.)
To: neverdem
If liberals actually put their own money where their mouths are, they’d be giving more to charity. But liberals’ best talent is putting OUR money where THEIR mouths are.
To: neverdem
If liberals actually put their own money where their mouths are, they’d be giving more to charity. But liberals’ best talent is putting OUR money where THEIR mouths are.
To: mysterio
Unless you’re buying a non-Big-Three car that’s made in the US, go on over to DU, Obama/union supporter.
Any monies given to the Big Three and the unions are going to go support The One and the Democrats.
7
posted on
01/08/2009 11:31:06 AM PST
by
Spktyr
(Overwhelmingly superior firepower and the willingness to use it is the only proven peace solution.)
To: neverdem
what are the chances of getting a list of cars owned by our reps?
8
posted on
01/08/2009 11:31:06 AM PST
by
absolootezer0
(thank God for Chicago: makes Detroit look wholesome by comparison.)
To: mysterio
“My next car will most likely be American.”
My next purchase will be a wonderful Toyota Tundra...built in San Antonio. It’s made in America.
9
posted on
01/08/2009 11:31:09 AM PST
by
MissouriConservative
(Tact is for people too ignorant to use sarcasm.)
To: neverdem
Ford did not get a bailout as far as I know.
Also Ford owns Volvo. I like my Ford and I have owned a Honda.
10
posted on
01/08/2009 11:32:48 AM PST
by
Frantzie
To: neverdem
what is an american car? This is not Detroit circa 1965. The whole argument is based on an illusion of what is and what is not in fact an “american” car. Once I nail down who is in fact contributing to america and who is fleecing america I support the contributor. And I have. I own a vehicle that is “more american” than most domestics despite the “foreign” nameplate.
To: neverdem
“Near-zero interest on passbook saving accounts and little interest paid out on government bonds also translate into trillions of dollars in subsidies for our economy. Both those with cash in the bank and foreign holders of U.S. Treasury notes are receiving little return on their cash investments, thereby ensuring American consumers historically cheap rates on their debts.”
Come on, Victor. That’s an entirely one sided specious argument. It’s like saying someone who is laid off benefits from a tax reduction.
12
posted on
01/08/2009 11:34:21 AM PST
by
Attention Surplus Disorder
(Satire writers should get a bailout. The current reality is putting them out of business.)
To: MissouriConservative
I’m on my 4th Chevy Silverado, 2007 4x4 crewcab. Had nothing but good luck with them, but my next might be a Toyota Tundra. Haven’t owned a car for at leats a couple decades..... always in trucks or jeeps. Right now I have 2 Jeeps and the Chev truck.
13
posted on
01/08/2009 11:35:21 AM PST
by
umgud
(I'm really happy I wasn't aborted)
To: Spktyr; All
Unless youre buying a non-Big-Three car thats made in the US, go on over to DU
No thank you.
14
posted on
01/08/2009 11:39:02 AM PST
by
mysterio
To: mysterio
If you buy a GM, Ford or Chrysler that’s made in the US, you might as well. Much of the money you spend in that case will go straight to the unions and thence to the Democrats. Remember, $400 MILLION came from the unions to get Obama elected, untold more was spent on Dem congressional campaigns.
Are you a closet Democrat or something?
15
posted on
01/08/2009 11:41:26 AM PST
by
Spktyr
(Overwhelmingly superior firepower and the willingness to use it is the only proven peace solution.)
To: Spktyr
If you name call me one more time, I'll never respond to another one of your posts.
I have two American vehicles that have been exceptional. My dad sold Fords for a while when I was a kid, and it helped us get out of poverty. I am loyal to the brand and I like the product.
I haven't supported the bailouts or printing of money that is going to devalue our currency.
If you want to have a discussion with me, fine. If you want to name call, have a nice day.
16
posted on
01/08/2009 11:45:21 AM PST
by
mysterio
To: mysterio
Once again, do you or do you not support the Democrat platform?
If the answer is “no,” then you need to avoid US-built Big Three products. It’s that simple.
Buying a US-made Big Three product is tantamount to donating money directly to the Democrats. Is that what you want???????
17
posted on
01/08/2009 11:48:34 AM PST
by
Spktyr
(Overwhelmingly superior firepower and the willingness to use it is the only proven peace solution.)
To: neverdem; All
Every single liberal I know drives a foreign auto. I mean every single one. Most of the conservatives I know drive or own at least one American Car. Granted this is not scientific but it’s just my observation. I’d think this is interesting.
18
posted on
01/08/2009 11:50:17 AM PST
by
truthguy
(Good intentions are not enough!)
To: Spktyr
No, I'm not a Democrat.
And who are you to give me some loyalty oath? Go fixate on someone else. Have a nice day.
19
posted on
01/08/2009 11:55:18 AM PST
by
mysterio
To: mysterio
Little sensitive about that, are we?
It’s not a loyalty oath.... more of an intelligence test. And yes, it is a tactic of the left, but it’s one that actually works.
In order to defeat the enemy, you must deprive him of financial support. That means avoiding funding him in any way, directly or indirectly.
20
posted on
01/08/2009 11:59:15 AM PST
by
Spktyr
(Overwhelmingly superior firepower and the willingness to use it is the only proven peace solution.)
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