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BONO MACK: GOVERNMENT BAILOUT NOT THE SOLUTION
Washington,
Dec 10, 2008 -
Congresswoman Mary Bono Mack (CA-45) today opposed the $14 billion taxpayer-funded auto bailout. Saying that the American people deserve better, Bono Mack issued the following statement:
“American families and businesses across our country are struggling to make ends meet and facing very difficult economic times,” said Bono Mack. “This crisis demands decisive action, but this action must take us in the right direction – towards a stronger, healthier economy with increased opportunities and jobs for all Americans.
“This legislation to bail out the Big Three automobile companies fails to provide adequate protection of taxpayer dollars, offering no guarantee that this injection of funds into failing businesses will provide the results or return on investment that it needs.
“I join many of my colleagues in remaining unconvinced that the automakers have a plan to make them viable and competitive at this point. These companies need to make sweeping changes in order to continue operations and become profitable in the future. Without these changes, simply throwing money at the problem won’t solve anything, and we’ll end up dealing with the same issues again in coming months.
“Additionally, Congress should not be in the business of picking and choosing which companies will survive during this tough economic time, especially as millions of small businesses making good business decisions are struggling. The American people deserve better.”
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