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Obama- "I will stand behind your warrantee"
The Obama administration has announced that the federal government will immediately begin backing the warranties that new car buyers receive. All the while, the Obama administration is trying to force Chrysler to be bought by a foreign car company. They are calling it a merger, but the detailed plan is to deny Chrysler bailout funds unless they allow Italian car maker FIAT to own a majority stake in Chrysler.
So, instead of touching our failed free trade policies that give foreign automakers a major advantage over American automakers, our government is further leading us towards foreign dependence. We are going further away from the real solution of a more self-reliant America.
In a statement read at the White House, Obama said he was "absolutely committed" to the survival of a domestic auto industry that can compete internationally. And yet, "our auto industry is not moving in the right direction fast enough," he added. Yet, he is pushing for another American company to be owned by a foreign automaker.
We can bailout American car companies all we want. Automakers can cut wages and cut healthcare costs. We can make hybrids and dozens of other changes, along with changing automaker CEO's.
But, American automakers will continue to struggle towards a slow death as long as we continue our failed free trade agreements. These agreements are destroying American manufacturing and the American worker. These clowns in Washington are going to allow our way of life to end. Globalization is killing us.
First, the politicans pass dangerous free trade agreements to cripple our automakers then when those automakers collapse so bad that they need government help, the government asks one of them to be bought by foreign interests.
If American automakers disappear, it will be a major blow to the soul of America. We can't afford to lose them or what is left of our manufacturing base. But, handing them over to even more foreign interests is not a solution.