Un-American

There I said it. Maybe some others are thinking it but I'll say it. Those United States Senators who voted down the US Auto Bailout bill are simply un-American.

It is unconscionable that these lawmakers can not see past petty politics and grudges to do what's best for this country and support our manufacturing base. People ask, "What is wrong with America?" I say this is what is wrong with America. I never thought I'd see the day that a majority of the Republican Senators would simply turn their backs on the citizens of their country. These same Republican Senators have wrapped themselves in the flag issue after issue but when it comes to rescuing a fundamental industry for our country - they turn their backs. America has lost industry battles on many fronts (find a piece of major electronic equipment manufactured in the US). How many industries can we loose and still maintain our leadership on the world stage? And of course, other countries around the world subsidize their major industries and provide financial support when they are in crisis.

Here's some additional food for thought:

* Sweden just secured 3.4 billion in loans for the Swedish auto group.

* Germany has a controlling stake in Volkswagon AG.

* Auto makers in Europe are requesting 54 billion in loans to meet new emission requirements.

* It's projected that the first quarter of 2009 will see the highest rate of home foreclosure in the US. How many additional homes will be lost if one or two car companies go out of business? Can you say gasoline on a fire?

* How many pensioners rely on their Chrysler or GM pension checks to have a viable retirement? If they don't have these pension checks, how will they survive? Who will support these elderly?

* The bad credit market continues to negatively affect all areas of business including the car companies. Is that their fault? When gasoline spiked to an unheard of (and criminal) $4+ a gallon, was that the car companies fault? It was almost an act of economic terrorism perpetrated on the US market.

* How will states that currently have our nation's largest unemployment figures like Michigan, Ohio, and Indiana remain solvent and pay for millions of additional unemployment checks? And consider the loss of the sales tax revenue as people without jobs have no money to fuel their state's economy? And the Colleges and Universities in these states will not receive the money expected from their State Legislatures which means that tuition may have to rise to a point where enrollment is impacted.

* In World War Two, it was this country's manufacturing base that helped turn the tide against Germany and Japan. Instead of building cars, Ford, GM, and Chrysler built jeeps, tanks, fighters, and bombers. We had the manufacturing infrastructure to do this. If heaven forbid, we found ourselves in another large scale conflict, how would we able to match output with countries like China that has a huge manufacturing capacity?

This issue should not be clouded by past mistakes. It should not be about grudges of union vs. non-union states. We need to ask ourselves if we want America to survive the 21st century. Do we want America to remain an important economic force for good in the world? This is as important as bailing out Wall street as the collapse of two of these companies would be devastating to Main street America and to our friends, families, and neighbors. Is it morning in America or are we seeing the sunset of a once great nation?

Main Street America: No Trust, No Faith

So the House of Representatives voted down the Wall Street Bailout Bill yesterday. Was this a total surprise? Not to me.

Why did this bill fail? Representatives received thousands of phone calls and e-mails from their constituents (Main Street Americans) who basically told them, "Hell no." Many Representatives could not vote for this especially if they were up for re-election in November.

Why did their constituents say "Hell no" to this bill? President Bush could not sell the bailout concept to the American people. House and Senate leaders could not sell the bill to the American people or their fellow lawmakers. Financial advisers and analysts could not persuade the American people that it is needed. Main Street Americans have no trust in the wheels of government and have lost faith in the process.

Who is to blame for this lack of trust and faith by the American people? This is the most difficult question to answer. Simply put. there's a lot of blame to go around. Visceral partisan politics is certainly one reason. Washington has the appearance of helping only the wealthy and the greedy over recent years. But I would say as of late, the main problem is President Bush. His economic policy mistakes and foreign policy blunders have left a bad taste in the mouth of the electorate. He can not sell the American people on anything that appears to come from his administration. He can not even sell members of his own party who are suppose to respect and follow his "leadership." President Bush is beyond the label of "lame duck." He is the "damned duck."

How will a bailout bill get passed? I think one will be passed the second time around. I think many representatives wanted to make a loud statement the first time and then they'll pass a modified version at the next opportunity. But I don't think the American people will get behind this bill unless something happens that directly affects them or their family (like one of their banks folding or they get turned down while attempting to purchase a car or refinance a loan). This crisis has not truly been felt yet by the average American who does not have great quantities of stock (or any at all). Right now, most Main Street Americans still feel that the problem is not theirs and they don't want to help people that they see as greedy and unworthy of assistance.

If the financial analysts are correct, the major hurt is right around the corner. I hope this crisis can be resolved so that: a) Markets are stabilized; b) the American people's money, if lent, will be returned; and c) Wall Street is held accountable if any wrong doing has occurred. But like most Main Street Americans, I don't trust any of "them" and I have little faith that even these three concerns will be adequately covered. And God help whoever assumes the office of the Presidency come next January.

Now appearing... John "David Blaine" McCain

90 minutes. That's how long the Presidential Candidates debate is scheduled to last Friday night at the University of Mississippi. Washington D.C. is about 2.5 hours via plane from the debate's location. Given that, both Senator's McCain and Obama can take the time to show up and talk about where they want to lead America for the next four years.

Why does Senator McCain seek to delay this debate? He is not a member of the Senate Banking Committee. He's not the Majority or Minority leader in the Senate. There will not be a vote Friday night on passage or not of a Wall Street bailout bill. I can only conclude that this is nothing but a political stunt on the part of Senator McCain to make some noise and "appear" as if he's leading something or anything. Now that the press honeymoon is over for Governor Palin, the American people (the intelligent, knowledgeable people who aren't on waiting lists wanting to cop a pair of Palin's favorite $400 glasses) are again focusing on the top of the two tickets and Senator McCain's poll numbers are slipping and looking like those in a pre-Palin time.

Debate not delay is what America wants. Discussion of policies and plans and not stunts is what America wants. John McCain is starting to look like the David Blaine of American politics.