GOP May Stop Auto Bailout

Several GOP Senators are not excited about bailing out the failing auto industry:

Sen. John Ensign said this morning he may try to block the Senate from passing an auto industry bailout, criticizing the plan as a further move toward “socializing” the economy.

“We’re looking at that very hard, because I have some serious, serious problems with this package as it currently stands,” Ensign said. “Unless we see some serious give by the other side, I think that not only myself but several of us will be looking at possibly blocking this package.”

Ensign commented during an interview broadcast on CNBC, as Congress returned this week to consider an $15 billion bailout bill negotiated between Democrats and the White House. He complained the Republicans in Congress were left out of the talks.

The Nevada Republican said the assistance to the automakers amounts to “the government picking the winners and losers instead of the market.”

“We’re just going down further and further and further towards socializing our economy,” he said.

Let's look at this from a purely political position. Certainly there are people throughout the Rust Belt who would be negatively affected by a failure of the auto industry, but most of the impact would be in Michigan. Michigan keeps electing idiot Democrats to run the state and its largest cities and was in an one-state recession long before the current financial crisis. The Dems and the automakers have pandered to the unions, paying them ridiculous wages that really didn't make sense for the actual work that many in the industry were doing (how much skill does it really take to work an assembly line?). The unions are fervent supporters of the Dem party, pouring millions of dollars and millions of manhours into Dem campaigns.

Why then should the GOP get excited about bailing these people out? Why not let the industry fail and rebuild it in a way it can be profitable. Auto manufacturing won't go away. Even if GM or Chrysler heads into bankruptcy, car building will go on but at a different pace and different costs. Nothing wrong with that.

We have to stop subsidizing failure. Let 'em go.