[Congressional Record (Bound Edition), Volume 155 (2009), Part 7]
[House]
[Page 9100]
[From the U.S. Government Publishing Office, www.gpo.gov]




                  NATIONALIZATION OF THE AUTO INDUSTRY

  (Mr. POE of Texas asked and was given permission to address the House 
for 1 minute.)
  Mr. POE of Texas. Madam Speaker, the nationalization of the auto 
industry continues. The President has announced the Federal Government 
is going to exercise more forced control over American car companies. 
The President fired the CEO of General Motors and wants more automotive 
restructuring the Federal way.
  General Motors and Chrysler have already received billions in 
taxpayer bailout money and are poised to win favor with the White House 
for even more money.
  Madam Speaker, unfortunately, General Motors and Chrysler have 
already failed. Why should taxpayers continue to subsidize these 
failures? Why? Because the almighty Federal Government forces taxpayers 
to pay off these special interest groups. The government ought not to 
pick who wins and who loses in the business world. The free market 
should decide.
  General Motors and Chrysler should not receive any taxpayer money and 
should restructure under bankruptcy like other failed businesses do. 
But the socialization of the American economy continues.
  By the way, Madam Speaker, if you like the way the Federal Government 
runs other government businesses like the post office, Fannie Mae, 
Freddie Mac, FEMA and the IRS, you will love the new federalized auto 
industry.
  And that's just the way it is.

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