As chairman of the Republican Governor’s Association, Mark Sanford (SC) wrote a letter to the white House with his concerns regarding the bailouts of the auto industry. Among other concerns, Sanford relayed the following (Via Hot Air):
“I believe we are at a tipping point in moving from a market-based economy to a politically-based economy, wherein one’s success can be determined not by good decisions and good work, but by the size of one’s voice and connection to Washington,” Sanford wrote. “The real economic stimulus of this country lies in the daily work and effort of millions you have seen across this land. These bailouts not only represent an enormous cost they are left to carry, but a shattering of the rights and responsibilities that have historically been linked to achieving the American Dream.”
“It would open the floodgates of federal monies for every distressed industry across this country–and there will be many in this economic slowdown.”
It makes me smile that there is someone in politics who gets it. One who understands the fundamentals of what makes our country great. FREE MARKETS. Our country has always adapted to changes in econmic industries. It wasn’t always pretty, but we managed to get through it. The bailout of defunct companies is like Washington trying to hammer a sqaure peg into a round hole. The auto industry needs to evolve with the changing conditions in our world economy. It cannot continue to have to hold on to the past, but it does need to learn from it. The industry needs a change from the top down; i.e. streamline executive positions, cut wasteful spending and renegotiate damaging labor contracts; for example GOLF COURSES?!? (via MM) Many jobs will be lost if the bailout is not offered. However, with Chapter 11 Bankruptcy or tough love from Washington will solidify a foundation of long term growth and prosperity. The auto industry will once again be in a better position to compete in the world market.
P.S. This post could have been titled “Governor Sanford Announces his Candidacy for 2012”