Obama says "No More"

During these past few years, many companies have gotten financial bailouts from the government. AIG, Goldman Sachs, and Merrill Lynch are just a few of the firms who have gotten handouts from the federal government. Although there are many reasons for the assistance, one key reason is because these companies are having hard times financially and difficulty sustaining normal operations. Unfortunately, their industries are not the only ones. The auto industry has been declining for some time now. Now, President Obama has drawn the line and said that no more handouts will be given, and the auto industry will have to work for themselves.

I couldn't agree more with the President. GM, Ford, and Chrysler all have received funds before during some initial bailouts. Those funds were supposed to help them get out of the financial distress they were already in. Under the Bush administration, these firms were given a specific amount of time to improve their situation. Today, these firms are still suffering; however, President Obama has said that no more money will be given. I mean, why would we give them more money? They have already proven once that a financial aid is not going to help them any. If the first bailout couldn't remove them from their operational dysfunctions, than why would the government hand out yet another bailout? As a taxpaying citizen, I do not think I can stand by and watch one of these companies get some more of my money, especially when I see that the auto industry itself is already suffering. Personally, I think President Obama has made a good decision. He's seeing that the public has had enough and took a stand for us all.

Sources:
1. Espo, David. "Obama assets gov't control over the auto industry." Kentucky.com: Lexington Herald-Leader. 30 March 2009. 31 March 2009 <http://www.kentucky.com/103/story/743627-p2.html>.