Ten Reasons Why the Bailouts Are Good for America

With prudent leadership from the Obama Administration, Congress, and financial and industrial leaders throughout American, the bailouts can and should lead to a bright future in America. It will require leadership, integrity, insight and cooperation between and among the major players. Most of all it will require all of us to end the bickering and start working together to build a new and great future in America. To quote President Obama, "There is no liberal America, and no conservative America, there is just the United States of America."

1. Precedent: The Chrysler bailout of 1979 was a huge success. In 1979 the Chrysler Corporation was headed toward bankruptcy. The company traveled to Washington and persuaded the Federal Government to guarantee its loans. The new money allowed the automaker to continue its retooling program. In 1982, Chrysler broke even during a miserable year for auto sales. In 1983 the company made unprecedented profits and paid back the guaranteed government loans. By 1984 the company really took off and sold more than 2 million vehicles, and earned a whopping $2.4 billion. This allowed the company to rehire thousands of workers. Sophisticated production procedures and innovative products were establishing a great reputation for Chrysler.

2. End the Recession. The financial and automobile bailouts coupled with lower interest rates should help bring the current recession to an end and put the American People back to work. The lower interest rates will make it easier for businesses to get new loans to expand and develop new jobs for the American People. It will also make it easier for consumers to get loans, spend money, and increase consumer demand in society. Increased consumer demand should lead to business expansion and and additional jobs.

3. A Bright Future: The bailout of our financial institutions and the auto industry will allow America to build a bright future. Foreign competition has devastated the manufacturing industry in America and drastically reduced the standard of living for the American People. We now have a new new national consensus on where we go from here. We must rebuild America by developing energy independence and rebuilding our infrastructure.

4. Energy Independence. After paying about four dollars a gallon at the gas pump, the American People are determined to pay the price and develop energy independence. Our banks now have the money to loan private industry the capital they need to develop alternative sources of energy including natural gas development, solar energy, wind power, coal gasification, fuel efficient cars, etc.

5. A new infrastructure. In the last few years, we have received several reports of bridges collapsing while in use, and people getting killed and injured. The American People now want to rebuild the aging infrastructure before it is too late. The financial bailout coupled with the low interests rates will allow government and industry to obtain the capital they need to develop the technology and train the workers to begin repairing the infrastructure

6. A Revived Automobile Industry. The bailout money must be used to produce the automobiles of the future, not the heavy gas guzzlers that have put us out of business. We should stress the production of light weight fuel efficient cars, hybrids, and the development of the electric car.

7. A Cleaner Environment. The development of alternative sources of energy, coupled with the production of fuel efficient cars, will drastically reduce carbon emissions and pollution in America

8. Save Jobs. The automobile bailout will save more than two million jobs in the automobile industry alone. If these jobs are eliminated the ripple effect in other industries will be devastating as more and more American Workers will be laid off.

9. Taxpayer Protection. The bailout legislation protects the American Taxpayer. The bailout legislation includes the elimination of the "golden parachute" retirement packages and bonuses for the top 25 executives at each of the manufacturers receiving government funds.

10. Establish a Car Czar. The car czar will be an individual or a committee that will act as a liaison between the government and the auto industry. The Car Czar will coordinate policy between the government and the auto industry to help ensure that that American Automobile industry remains healthy.