The Future of Automobiles in the USA

I didn't like the Government bailing out GM and Chrysler in the first place but what is done is done. That in mind I LOVE Lamar Alexander's of Tennessee and Bob Bennett's of Utah bill titled The Auto Stock for Every Taxpayer Act which would turn over the government's stake to GM and Chrysler by a distribution of shares to citizens. The bill would:

* Prohibit the Treasury from using any more TARP funds to bailout GM or Chrysler.
* So long as the government holds stock in these companies, require that the Secretary of the Treasury and his designee have a fiduciary responsibility to the American taxpayer to maximize the return on that investment.
* Not later than one year after each company emerges from bankruptcy, require that the Treasury distribute its common stock holdings in that company evenly to every American who paid taxes on April 15.

The Government has no business being in the car business. If we allow the government to have a say in how cars are built then we may very well end up with the following.



Thanks to Keith for the link. Funny stuff but keep in mind that many a truth has been said in jest. I'd much rather have a weakened General Motors over a taxpayer owned Government Motors.