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Madam Speaker, its Christmastime in the city, so the Federal Government is about to give away more taxpayer dollars to those with their corporate hands out.
Now the Big Three Automakers say they need Uncle Santa Sam to save them from themselves even though they have been bad all year. And they expect Joe Sixpack from Dime Box, Texas to pay for their naughty needs.
We cant call it a bailout because that might be too honest a statement to our citizens; so we call it a bridge loan. Actually its a bridge loan to nowhere.
And Congress wants to create a Car Czar to oversee the control of how the Big Three make new cars. They tell us its not the nationalization of the car business, but it sounds close enough for government work to me.
If you like how the Federal Government fouled up the mortgage industry by over regulating Fannie Mae and Freddie Mac that has to cost the taxpayers billions, or you like the way the Federal Government controls passenger rail service with Amtrak that loses billions of dollars every year, youll love the way the Federal bureaucrats make new cars.
The new federalized auto industry will have the competence of FEMA, the pleasantries of the Post Office and the compassion of the IRS.
And thats just the way it is.