The newest Consumer Reports ratings for auto reliability are out, and who do you suppose is at the bottom of the heap? Give yourself a gold star if you guessed the two receiving $31 billion in bailout cash.
In December, GM and Chrysler were granted a total of $17.4 billion in federal loans to keep operating through the recession. GM is seeking another $16.6 billion in loans, while Chrysler wants another $5 billion.
These two companies clearly deserve to die. They're noncompetitive, yet are being kept on life support to the tune of tens of billions of dollars that the USA doesn't have. It's long past time to yank their feeding tubes.
This is something that American "leaders" simply don't seem to understand: it's un-American to prop up companies that can't or won't compete on equal footing in the marketplace. It's best for the economy to let them die, as they should. They'll be replaced by cutting-edge companies with the skill, agility, and vision to compete head-to-head. Our government needs to quit messing around with natural selection; all they do is further foul the water.
