Published: 12-04-08
Congress is currently considering another multi-billion dollar bailout—this time for the auto industry in Detroit. They have suppliers and dealers all over the nation and I do not want to see them fail but they have brought many of these problems upon themselves.
For example their labor costs are two-thirds higher than their competitors. And while they produce many good cars trucks and SUVs for us in Texas overall they rank low on consumer satisfaction surveys.
Everyone is hurting in this economy. If we help out the auto industry today who will be next—the airlines tomorrow or perhaps Starbucks next week? Consider all the small business people who are struggling.
We have 500000 small businesses that fail each year yet they are not being considered for a bailout because we do not know their names and they do not have representatives walking the halls of Congress. The average small business is capitalized with $25000. With the amount of money we are talking about spending in Washington we could create two million new small businesses across America.
I want Detroit to succeed. I do not want them to fail but a bailout does not guarantee that they are going to succeed. Unless they can produce better cars and trucks at a more competitive price no amount of taxpayer funding is going to solve their problems.
The CEOs of the Big Three automakers flew to Washington on their private jets looking for a public handout and they failed to provide a plan of how they would turn their businesses around.
Again everyone is hurting in this economy. If we really want to help we need to make America the most pro-business climate ever so that jobs are sustained here jobs are secure here and jobs are grown here.
We can accomplish this by working together but another bailout for another large industry in America is not the way to go—not when farmers ranchers and small businessmen all across Texas are still struggling. There is a better way.
I Need Your Feedback
On Friday December 5 2008 the CEOs of the Big Three automakers appear again before the House Financial Services Committee to continue their plea for an additional $25 billion bailout.
I want to use this opportunity to share your comments with the automaker executives and my Congressional colleagues. Do you think taxpayers should give the auto industry $25 billion while many Texans are struggling to run their own small business or pay for groceries healthcare education and their home mortgage?
You can click here to contact me so that I can share your comments with my colleagues. At the top of your message please be sure to note you are responding to this e-newsletter.
Medicare Prescription Drug Plan’s Open Season
Medicare Prescription Drug Plan’s open season runs from November 15-December 31 2008. During this time eligible individuals can review their current plan compare it with a list of their medications and see if it still fits their needs.
Seniors who would like additional information on changing their prescription drug plans can contact my Dallas office at 214-349-9996 or Medicare at 1-800-MEDICARE (1-800-633-4227) or visit www.medicare.gov.
Digital Television Conversion Occurs on February 17 2009
On February 17 2009 all television broadcasts will become digital signals (instead of the traditional analog signals) and the way many Americans without cable or satellite watch television will change. If you currently have cable or a satellite you will not be affected.
However if you rely on an antenna to watch television you have several options to prepare your home for the switch: purchase a DTV converter purchase a digital television or subscribe to cable or satellite television.
If you were unable to attend my forum on the DTV conversion in June or if you have further questions please visit www.dtv.gov or call my Dallas office at 214-349-9996.
