One real good reason to bail out the auto makers, at least for a few years -
Right now, EVERY sector of the US economy, and almost every major country in the world has economic activity dropping fast.
Two years from now, some sectors - maybe oil, technology, and road construction - will be expanding, and it is likely that China, India, and Canada will be growing.
If the automakers go BK two years from now, there will be at least some new jobs, and the banks will be workng better by then.
Going BK now means dragging down even the healthy parts of the economy.
If the automakers go BK now, there are few jobs, and that may mean there will need to be a Federal Government 'make work' program. I would rather the employees kept building cars.
Or the FED will have print even more money, which means eventual inflation. |
