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November 21, 2008
RINO Rep. Joe Knollenberg R-Mich 'It is not your money'
Rep. Joe Knollenberg, R-Mich
A Republican congressman seeking a $25 billion bailout of the troubled U.S. auto industry made a stunning statement about taxpayer funds to benefit Detroit, claiming, "It is not your money."
Rep. Joe Knollenberg, R-Mich., made the remark during a discussion with Fox News anchor Neil Cavuto yesterday as the pair debated sending billions of federal dollars to prop up the Big Three carmakers.
Cavuto asked Knollenberg: "When the housing industry CEOs come to you and say, 'You know, if we go under and all the ancillary businesses – the dishwasher manufacturers, the washer-and-dryer manufacturers, the Lowe's and the Home Depots that vastly depend on our being alive and vibrant – if we go under, there's hell to pay. And then the textile manufacturer comes to you and says, 'If we go down, there's hell to pay.' And on and on and on we go. Where do you draw the line with our money?"
"It is not your money," said Knollenberg.
Cavuto screamed back, "It is! It is taxpayers money!"
Knollenberg claimed dealers are not selling cars right now because "there's no credit to get."
He explained, "If we could just remove that problem, and this is what we're trying to do, then we'd be in the position to sell cars."
Cavuto fired back: "There's nothing in the $25 billion or $50 billion that will open up credit for folks to buy cars that in good times and bad, they had not wanted to get from these guys."
Knollenberg explained, "The purpose of the $25 billion is to give them some money for the time being to make sure they stay alive, that they stay in place."
He claimed there would be a massive negative ripple effect through the economy if even one of the major automakers is allowed to fail.
Cavuto closed the discussion by saying, "Congressman, there's a line of people behind them who are going to make a similar argument. I hope you're ready for it."
Knollenberg held his seat for 16 years in the House of Representatives, but was just defeated this month by Democrat Gary Peters, who will be the first Democrat to hold that district since 1893.
Today on the CBS "Early Show," Sen. Richard Shelby, R-Ala. said automakers should file for bankruptcy and fire their management.
"I don't believe that they have immediate plans to change their model, which is a model of failure," Shelby said.
He argued against any bailout, saying, "It will just prolong the agony. These companies are failures now, unless we get rid of the management."
The full extent of Knollenberg's appearance can be seen here.
Wild Thing's comment.........
He was just replaced by a Democrat from a district the Republicans had held since forever. He has probably been a RHINO for years.
Since 2005, I have felt more and more like I was living in the twilight zone. The country at this stage bears little resemblence to the one I grew up in.
Good for Cavuto is not one to back down!! I like him and he has a good show.
This is why the Republicans took a whoopin on election day. Big buisness, globalist, elites just dripping with arrogance.
Not that the Democrats are any better, they are the TRUE enemy within, and keep touting mantras that appeal to the gimmiewannagottahave crowd.
....Thank you Mark for sending me this article.
Posted by Wild Thing at November 21, 2008 04:50 AM
Comments
And this politician POS is not alone. They seem to think that your money is their's to do whatever they see fit to do with it. To many in both parties. The American peple should wake up and vote all incumbants out. A new crop could not be any worse. And Obama's picture of your property and money is even worse.
Posted by: Bob A at November 21, 2008 06:36 AM
The whole political class makes me sick. All of them even the good ones when they don't speak out because their afraid to hurt their "coleages" feelings. If i ran my life and our families finances like they do i'd be bankrupt with no one to bail me out. Do they really want us to taech our children and grandchildren to "lead" like this. Idiots...everyone of them. I hope someday i wake up to find that the govener of SC has seceded and other states have joined . I feel its the only way. I love our country but whats left to do.....whew....i feel better now...thanks chrissie
Posted by: James R McKenna at November 21, 2008 07:18 AM
I feel the same as everyone else regarding this matter. A loan or bailout, whatever you want to call it, without a solid business plan is worthless and just throwing good money after bad. If any of you were to go to a bank (that would loan money in the first place) and ask for a loan to start up a business, the first thing they are going to want to see and review is your business plan. No plan or bad plan = no loan!!!!!!
Knollenberg is acting like the dumb shit he is because he represents Michigan - home of the Big 3 so it doesn't really surprise me that he made the comments that he did. He is probably in the Big 3's pocket anyway.
Funny that we haven't heard (at least I haven't) any of the other automakers (Toyota, Mitsubishi, Subaru, etc) asking for bailouts!!!! Maybe because they know how to manage a company.
You are so right Chrissie....the Republicans got their butts kicked because of thinking they were above everyone else and supporting not just big business but greedy, poorly managed big business.
I have nothing against anyone who can start a business, run and manage it ethically, and make a kazillion dollars. More power to them. That's the American Dream!! But when you start down the slippery slope of paying for favors and screwing your customers in the process, then I have absolutely no sympathy when you go bankrupt!!!! You got what you deserved!!!
I would say that if the Big 3 can't come up with a viable reorganization plan, starting with getting rid of 95% of their corporate jets and outlandish wages and bonuses, then too bad if they go out of business. There will be someone else to come along and fill in the void....Maybe Volkswagen!!!!! LOL
This country will survive this mess we are in right now, created by both Democrats and Republicans who sold their souls for the almighty dollar, power, and popularity. It just isn't going to be easy. I'm sure our parents and grandparents thought they were seeing the end of the world during the Great Depression. And they did see the end of the world as they knew it to be at that time. So will we. When we come out of this, and we will, it will be a very different world in the business arena. And America will become a lot stronger than they are now. I truly believe this!!!!
Posted by: John at November 21, 2008 09:40 AM
No taxpayer bailout. The Big 3 need to file for bankruptcy. Then they need to rebuild. Fire their present management(no golden parachutes), renegotiate union contracts and then compete competently with Japanese and German auto makers. If one or all fail, then so be it. No where in The Constitution does it state that American businesses need to be government subsidized.
Congressman Knollenberg is a great example of the reason we need federal term limits.
Posted by: TomR at November 21, 2008 11:32 AM
Where does this jerk get the idea that it's his money ?
Rush has always said, 'It's not their money'. That nails it. They all, congress Senate and President think its their money and are offended when a President wants to give some of it back to the drones who legally earned it.
Posted by: Mark at November 21, 2008 12:00 PM
Bob A, your right, that really is what many of them think. It makes me furious!
Posted by: Wild Thing at November 21, 2008 05:44 PM
James R McKenna, I know exactly how you feel. I feel the same way.
I know there are several real conservatives in office, but they need to be stronger, louder and take a stand. If they would only realize how much backing they would have if they did this. But since they don't or do it so seldom it makes it hopeless as to what we can do.
Posted by: Wild Thing at November 21, 2008 05:50 PM
John, I agree, it is going to be a long and hard road back but it is not impossible.
Posted by: Wild Thing at November 21, 2008 05:52 PM
Tom,ditto that, we wouldn't have half the jerks in office if we had term limits.
Posted by: Wild Thing at November 21, 2008 05:54 PM
Mark, I agree!!!
"They all, congress Senate and President think its their money and are offended when a President wants to give some of it back to the drones who legally earned it."
Posted by: Wild Thing at November 21, 2008 05:57 PM
