12/10/08 Bailout

What happens when you play too fast and loose with your finances and you run out of cash? Generally, you lose; you lose your car, your big boy toys and sometimes your home. When our nation's business owners, farmers, ranchers and the American worker fall upon hard economic times who's there to bale them out? Normally it won't be Uncle Sam; that is unless you're a Detroit automaker. Congress is getting ready to salvage the auto industry with a bailout that will figure in the billions. And while most Americans understand the reasons behind the government bailout of the auto industry, it still makes it a bitter pill to swallow. The proposed legislation is calling for a presidential appointee, or "car czar" to oversee the three big US automakers who have failed to keep pace with their overseas rivals. Improving the fuel efficiency of their fleet and curtailing excessive executive compensation will have top most priority. Obama states that he wants to hold the companies "feet to the fire". Good thing for them my aunt isn't president elect; she always says, "you burn your bum, you sit on the blister".