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Another bailout, another few billion dollars.

The House on Wednesday approved a $14 billion bailout plan for U.S automakers after the White House and Democratic leaders finalized a deal empowering a government “car czar” to force the companies into bankruptcy if they don’t restructure by next spring.

Supporters, including administration officials, Democratic congressional leaders and many independent economists, warned that hundreds of thousands of jobs could be lost and hundreds of related businesses damaged or destroyed if one or more of the U.S. automakers failed.

"The consequences of defeating this bill would be disaster for the economy that is already in trouble," House Financial Services Committee Chairman Barney Frank (D-Mass.) told his colleagues during the debate. The vote was 237-170, with 32 Republicans joining 205 Democrats in supporting it.

Republicans, Libertarians opposed

Despite the fact that hundreds of thousands of jobs could be lost and hundreds of supporting industries affected if any one of the Big Three automakers in Detroit failed, the Republicans – and the Libertarians – oppose the plan, which means it may not pass through the Senate. The Republicans are concerned that if the auto industry gets more help, other industries will line up on Capitol Hill wanting a slice of the handout pie.

The nation's largest third-party is calling for Congress to strike down a measure backed by the White House that would risk at least $15 billion of taxpayer dollars to bailout the American automotive industry.

"It's insanity," says Libertarian Party spokesperson Andrew Davis. "It's insane that we keep going back to the taxpayers to bailout struggling corporations who, for lack of good management and sound business practices, have become unprofitable. Who in Congress is standing up for the taxpayers? Where are the Republicans, who claim they stand for the free market? Where are the Democrats, who claim they oppose corporate welfare?"

Understanding the current plan

The current plan seeks to initially give Detroit automakers a $15 billion, taxpayer-backed loan with a deadline of March 31 to develop a plan for profitability. If, by the deadline, automakers fail to reach what the White House has established as "viability," the loans would be recalled.

"We all know what's going to happen, and it's not going to be the outcome proponents of the bailout want us all to believe," says Davis. "Automakers will get $15 billion of taxpayer money, and when April rolls around, they'll be asking for more time and more money.”

Davis is concerned that there are absolutely no provisions in the bailout bill that require any type of change to management, union contracts or company structure before receiving taxpayer money. All taxpayers have is a promise that the same CEOs who put their companies in this mess will get it right the second time. Or, the third time, Davis says, if you're talking about Chrysler.

A call for “green technology”

One possible condition is energy-efficient cars. But tying a bailout to making Detroit invest in green technology" would ignore the fundamental reality of the global collapse of the price of oil, says John D. Graham, dean of the IU School of Public and Environmental Affairs, whose research interests include the future of the automobile.

"If Congress insists on a policy of green vehicles as a condition of bailout, there is a good chance that the Big Three will end up in bankruptcy or be back to Congress seeking additional funds," he says.

Studies show that car buyers won't pay more for fuel economy unless gas prices are so high that they can recoup their investment in three years. With the economy in a recession, that won't be the case soon, and "the fate of the U.S. industry will be determined by what happens from model years 2010 to 2015, not 2030."

There is also a risk the companies would increase gas mileage by making vehicles smaller, thus compromising safety. "If you downsize across the board, you will increase traffic fatalities significantly," says Graham, who has published extensively on automotive safety.

If Congress does push green technology as part of a bailout, he says, one promising approach would be a "feebate" system: tax rebates for consumers who buy green vehicles but higher taxes on gas guzzlers.

But such a system should be adjusted to vehicle size and weight classes to avoid promoting safety risks and to allow for the fact that some consumers need larger vehicles. With that approach, a big pickup that gets good gas mileage -- for example, because of a clean diesel engine -- might qualify for a rebate.

Demanding a management change

Davis wants a management change. "The end goal of any restructuring should be removing the management that led companies into this pitfall," says Davis. "This should be done by the companies—not the government. The Libertarian Party favors letting these companies file Chapter 11, instead of risking taxpayer dollars for promises of reform. It will be tough in the short-term, but better for the long-term stability of our economy."

Jennifer LeClaire is the editor of The Voice magazine and author of "Doubtless: Faith that Overcomes the World." You can also visit her online at www.jenniferleclaire.org.