Chris Truscott posted yesterday in favor of bailing out the auto industry. To paraphrase: People are hurting and a way of life is about to die--and we're to accept such observations as arguments in favor of a government bailout. But the mere fact that a large US industrial sector is in trouble ought not justify massive public outlays in order to prop it up. The federal government shouldn't be picking winners in business competition. (If there's a smart reason for bailing out Detroit, let's hear it.)
As a general rule of fair trade, the US should provide a level playing field to domestic and foreign competitors--and not subsidize domestic production. Rep. Jim Ramstad failed to provide a compelling reason for voting in favor of the bailout bill.
With his trademark timidity, Rep. Erik Paulsen refuses to disclose his thinking on whether Uncle Sam ought to bail out the auto industry--just as Paulsen refuses to disclose whether CD3's multi-decade tradition of Town Hall Meetings will come to an immediate end, with his swearing-in.
