Auto-Industry

The Auto-Industries "Big 3" has been shut down for a $14B bailout plan in the senate. The "Big 3" consists of three major auto companies (Crystler, Ford and GM). This bailout would cost American taxpayers billions of dollars in taxes. Not only would it cost Americans dearly, but it would also put hundreds of thousands of people out of work. The impact that these jobless people would have on the economy would be astronomical.

What are your viewpoints on this subject? Should the senate have passed the bill for the bailout? What would the impact of these jobless people be?

 

The White house promised that it would save them if like an emergency happens.

So they might escape.

 

Bush said he would take the steps needed to help the industry survive. But it was also almost guaranteed that the bailout would pass, yet it failed. No one care be sure the outcome, but only debate what the effect would be if no bailout plan is instilled.

 

GM closing down will turn Oshawa into a ghost town.
Rhyme not intended.

 

Well I did say they might escape.
George Bush fucks everything up lol.

 

Quite the contrary my friend. He might have messed a few things up but, no one mentions the good things which he has done. We have been without a terrorist attack for the last 8 years which in my eyes is an accomplishment. Although I think that Bush won't let them die, that could cause mass problems.

 

The only reason we haven't had a terrorist attack is because they are still planning on what to do.......
George Bush faught the Iraqis which they had nothing to do with 9/ 11 and made us waste 700 billion dollars a year on the war.
And now we are 10 trillion dollars in debt......

 

I'm only 14, but i'm smart and keep up with these things lol.
Personally, I think congress should have passed it. IF the 3 companies do vanish, think of how much it will effect us?

 

Absolutely not.
Why on earth would you want the government to subsidize failure? When you subsidize something, you get more of it (as we can see with the welfare state).
Not only that, but this stifles the rise of new car companies which could have replaced them.
I do feel like I should add that they were hampered in part by government policies which should be removed.

All in all, let them fail - this is the market trying to correct itself by eliminating unsustainable jobs and practices.

 

I almost agree, but the jobs lost would be astronomical. The downfall of these companies would have more of a negative impact overall.

 

So you advocate the looting of the taxpayers in order to keep these companies solvent even though they can't compete?
I fail to see your logic. It is not my responsibility nor anybody elses to keep these autoworkers employed.

 

this is bullshit fuck GM

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Lol, but it will be your responsibility when these 3 million workers come and take the job you once had for much less. It's somewhat like illegal immigrants coming into the country, except these are guaranteed. It is bullshit, but this would screw our jobs and wreck the economy if it actually happened. Let them fail, and you will see the drastic results that will gladly welcome us into the 2nd Great Depression.
There are many things which aren't our responsibilities yet we need to uphold others.

 

We live in America, there is success and failure. The government should not be stepping in... they created the mess they are in, and they alone should dig themselves out.

 

we should bail em out. we never really should bail out AIG for 700 BILLIOOON DOLLLLAARRRS, 35 BILLIIOOON DOLLAAARRS is a small price to pay to keep thousands of jobs open + we get better cars from them.

 

We should allow failure to a certain extent, but not when it's going to drastically affect America these consequences should be thought about. It is estimated that 3 million jobs will be lost initially. A lot of times the messes others create need to be bailed out and it shows with the war in Iraq. They go themselves into the mess they were in, but if we did not step in and capture Saddam the world would be completely different.

 

If they are more productive I, as an employer, would of course hire them.

You are aware the government caused and prolonged the first depression right?
Bailing out the autoworkers will just prolong the problem, when they do fall, they will fall harder.
Also, it isn't as if they will be unemployed forever.