Price Tag For Auto Industry Loans Come Out Of YOUR Pockets.

Price tag for auto industry loans doubles to $7.5 billion

The cost of funding $25 billion in low-cost government-issued loans to the auto industry doubled to $7.5 billion -- a move that could make it more difficult to convince Congress to approve funding before it adjourns later this month.

Peter Orszag, director of the Congressional Budget Office, said in a blog posting that his office "suggests a 30-percent subsidy cost for such loans under the conditions specified in the authorizing legislation. The resulting subsidy cost would imply a budget cost of $7.5 billion for $25 billion in loans."

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I said it before and I will say it again, the price of failure is failing. 

Let the auto companies fail.

Let the mortgage industry fail.

If a pizzeria has poor product and no one buys it, that pizza business fails.

If a computer company makes a product that costs too much, that computer company fails.

If a clock company can't find customers it stops making the clocks and goes out of business.

Where does it state in the constitution that you, me and our neighbors are responsible for bailing out the mortgage industry, ala Freddie Mac and Fannie Mae and the auto industry ala Chrysler, GM, Ford?

How is it the government can decide that a business simply cannot be allowed to fail because they have good lobbyists in Washington?

These business CAN fail and SHOULD fail, its called "survival of the fittest" in the business world not "beggars can be choosers".

Enough is enough, if a business model cannot produce a good product at a good price and it's upper management is too greedy to reduce salaries at the top as well as the bottom, it is justified in it's failure and furthermore DESERVES to fail.

$100 billion to Freddie Mac and Fannie Mae, $25-$50 billion to the auto industry....its too much folks, it's your money and mine and it's being used to fund businesses that technically are failures.

How many of you have lost your home, lost your job, lost your car, declared bankruptcy?

Why didn't you just ask the government for a bailout like big business does?

A mulligan, a do-over, a gimme...its how business is done in this country.

Welcome To Detroit