November 19, 2008

Top 10 reasons why I think we need to bail out the Big 3

  1. 1 in 10 jobs in America is affected by the Big 3.
  2. It’s serves to effectively punish American manufacturing workers for the horseshit healthcare system in this country. Why are they getting $70 an hour? Healthcare costs!
  3. A huge reason our economy didn’t go into a flat-out depression after 9/11 was due to GM’s 0% financing deal. If something happens again, do you think Honda and Toyota are going to bolster our economy?
  4. 2.5 million jobs would be lost in the first year. And these aren’t jobs that can just up and transfer to another industry. Let’s look at how much our government spends retraining and relocating these people!
  5. We suspended campaigns and raced back to Washington to hand out $700 billion to the banks who gave predatory loans to low income households but not willing to give $25 billion to save what’s left of our manufacturing base? Really?!?
  6. In 1980 we guaranteed $1.5 billion of private loans to Chrysler, which was much smaller than GM is today. The government made $400 million on the deal. Why would we think today would be any different?
  7. No country in the world would let its manufacturing industry fail like we have ours.
  8. National security. Where do you think things get built for our military?
  9. Unlike others we’ve bailed out already, most of the Big 3 employees haven't seen raises for years. Yes, I know, some executives are getting bonuses and riding in their private jets. So fire them and put new people in place. Or demand they stop doing that, like we did with AIG. But don't fault the assembly worker for their assinine behavior.
  10. Do you like buying things? Go against the bailout and watch the dollar drop so low you won’t be able to see it in the depths of the abyss into which it’ll fall.

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