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Sent my letter off just now....it's a bit longer than probably necessary, but since they never read these, thought I'd go ahead and hit em good....at least it made me feel a bit better, for about 5 seconds!
Dear Mr. President,
While I and many other citizens continue to pay our bills, mortgages, and debt on time without any federal assistance (bailout,loan, or otherwise), there are some citizens and COMPANIES that can not survive this market downturn without support.
The automotive industry has been one of the few long-standing, backbone industries of the United States. They have been there in good times and in bad. They have employed hundreds of thousands of Americans over the years and have developed devoted "legacy" families that encourage generations to labor, both blue and white collar, for the Big-3 to support their families.
Unfortunately due to poor business decisions by leadership, unchecked manufacturing, and wages that did not adjust along with product demand, the current economy has placed at least 2 of the 3 companies into situations that they can not extract themselves from without government intervention.
If one of these companies fails the economic ripple-effect will be a catastrophic blow to the economy and American public.
GM has said for months now that bankruptcy, even arranged, would lead them to a path of liquidation. GM also states that the average American would cease to purchase vehicles if a company entered bankruptcy, even arranged also. Therefore I support GM on this matter and ask that you also support them in their effort to avoid bankruptcy. The approximately $18B they have asked for is "drop in the bucket" compared to the bailout you supported for Wall Street which to this date has been a mediocre success at best.
The auto manufacturers deserve assistance, in the form of LOANS, which will and should be paid back on schedule and with interest to the American public. They should be monitored for their fiscal and ethical use of these monies to ensure future liquidity.
And speaking of fiduciary responsibility, after repayment of the loads any interest monies remaining should be used to shore up Social Security or federal debt paydown...NOT to line the pockets of yourselves, Federal Judges, or anyone else except maybe our men and woman in the Armed Forces.
You still have a chance to save your legacy as President....or you can choose to ignore this and secure your Presidency in the state it is currently in. It is time for you as the Executive of the United States to remind Washington DC of who put you in office, who you should be listening to, and who you are supposed to be acting on behalf of.
Respectfully,
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