U.S. Government Complaint - Taxpayers Should Not Bailout Detroit Automakers
The chief executives of G.M., Ford and Chrysler have been lobbying hard in Washington for at least $25 billion in addition to the $25 billion that the government has already lent them. I understand that Congressional leaders expressed some support but have not made specific promises.
Please urge your senators and representatives not to give more taxpayer money to automakers who are failing because they cannot compete. Long before this recession, Detroit automakers were loosing market share to Toyota, Honda, Nissan, Hyundai and Volkswagen. Detroit’s overly-generous union contracts and failure to produce efficient well-made automobiles has contributed more to their demise than the bad economy. The recession is also hurting Asian and European automakers, but their governments are not bailing them out. Why should we?