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“PoliTex: Let the automakers crash, Armey says”
Former House Majority Leader Dick Armey wanted everyone to know: The U.S. government should not bail out the ailing auto industry.
They "have failed to keep up in the competitive auto industry," said Armey, who for years represented North Texas in Congress. "High labor costs and inflexible work rules, as well as a failure to overcome negative consumer sentiments, have combined to bring the Detroit-based auto manufacturers to their knees."
It’s a situation of the automakers’ creation, Armey wrote in an e-mail on behalf of FreedomWorks.org, the Web site of the activist group he leads that wants to reduce the size of government and cut taxes. The auto industry didn’t wisely invest profits, he wrote.
"They want to make their problems our problems," he said. "It is time to draw the line in the sand when it comes to federal bailouts. So far, the forgotten man, the middle-class U.S. taxpayer, has had to bail out Wall Street, AIG, Fannie Mae and Freddie Mac. We are sick and tired of having to pay for the recklessness of others, and we are not going to take it any more."