People who are defending this bailout point to the jobs lost not only in the companies themselves but in their suppliers. I agree this would be a painful result, but what is the alternative? We bail them out now...and they continue to operate stupidly...and in a few more years we bail them out again! Meanwhile, they are stuck with all kinds of government mandates to build electric cars and solar powered anti-gravity vehicles and to keep the pensions and wages they can't afford. They become quasi-private companies just like Fannie Mae and Freddie Mac...that sounds like a good idea. I love the democrats problem with this though...they don't like to be seen bailing out corporations but this is also a bailout for the UAW...so, since they are controlled by big labor, they have to push this bailout.
The big thing everyone misses is this: if there is a demand for cars someone will build them! It is clear that there is not a demand for cars built by UAW workers and incompetently managed companies. I understand that not everyone can start a car company, but if there is money to be made...someone will do it, if not...we can't go on subsidizing failure and make-work.
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