If Auto Loans Fail, Who’s Going to Bailout Congress?

General Motors, Ford Motor, and Chrysler are on the brink of oblivion. Unless Congress acts, our nation will be swimming in red ink for years to come. Here are some things that I would like to tell members of Congress:

1. Are you nuts? Millions more Americans out of work will sink our economy
2. Are you crazy? Foreclosures will skyrocket to new levels. Many local governments will lose valuable tax revenue. There will be layoffs galore in cities and states all over our country.
3. Are you insane? Why are you so intent in hurting blue-collar and white-collar workers? Do you want to turn our country into a third world nation?
4. Are you out of your minds? Failure of the American automakers will lead to failure of the automobile suppliers. This will lead to more layoffs.
5. Are you listening to economists who are warning you of the dire consequences? The loan amounts will be like peanuts compared to the economic chaos that will occur if you let these companies file for bankruptcy
6. Are you living in fantasyland? No one wants to buy cars from bankrupt companies. Employees are not going to be motivated by draconian labor contracts.
7. Congress needs to get off their hypocritical horses. Oversight for the financial companies, forget it. Tough questions and tough demands of the insurance industry, no way. While we’re at it, Congress should stop using private corporate jets. Congress should reduce their perks and benefits. Congress should grow up and show more concern for the middle and lower class.