It is time for the big autos to go belly up.  Congress made a mistake with the $700 BILLION bailout and is about to make another mistake by bailing out the Big Autos: GM, Ford, and Chrysler.  If these companies cannot survive on their own, they let them go under.  The party is over.

Congress could allocate money for new companies with innovative new products; perhaps they could even make uses of the manufacturing space of the auto companies that go under.  In many cases, a $100 MILLION would really help a new company get off the ground and employ lots more people than the old autos which have shown they don’t know how to run a profitable company.

Further, there is plenty of manufacturing done in America by foreign car companies, like Toyota and Honda.

If America continues to reward failed companies with bailout so that they don’t have to be responsible for running the companies into the ground, there is little incentive for companies to made prudent decisions.

Unfortunately, bailing out the autos will likely be a political decision because Michigan voted democratic.

America is doomed.