George Mason’s Don Boudreaux has a snappy response to Center for American Progress suggestions that If It Happens, The Auto Industry Bailout Needs To Be Done Right:
While it’s true that some ways of bailing out this industry would be less harmful than other ways, there is absolutely no “right” way to do it. To advise government to do the auto industry bailout “right” makes as much sense as advising a burglar to burgle the neighborhood houses “right.”
And don’t think for a second that this is the first, or last, time the auto industry is gonna stick us up. The Washington Post reported yesterday:
The $25 billion would come on top of $25 billion in low-interest loans Congress approved in September for the car companies to retool factories to produce more fuel-efficient vehicles. And the United Auto Workers plans to press next year for an additional $15 billion in public funds to cover the first payment the three companies are due to make into a new independent entity that will fund retiree pensions and health benefits.
With the left now in power, these bailout/robberies will never end.