Yesterday I offered my thoughts on the auto bailout. And I mentioned that I was conflicted in my thoughts, well no more. The love for my hometown and the knowledge that the auto industry is what holds the mid-west together has led me to be a champion for the bailout.
Michael Moore said it best last night on Keith Olberman when he said the auto executives are being treated like red headed step children and having to prove themselves to Congress that they need the money and will know what to do with it (which I am not totally against, because there has to be a plan, and the companies have to re-tool and improve) but the Wall Street "thieves" as he called them, were just basically written a blank check with no conditions (and that's why it's not working). He equated it to the fact that the auto makers represent blue collar America, the part of the country that has been forgotten, and the part that Obama is championing we fight for, and Wall Street represents the elite and rich, so they are considered more worthy. It's tantamount to the Bush tax cuts, where we continue to help those that least need it and pad their pockets even more, while the middle class struggles and morphs into the low income bracket.
Just think of the trickle effect that will occur if the auto makers go under.
There will be no cars to produce--> plants will be closed-->people will be unemployed-->therefore unable to afford there homes, adding to the housing crisis--> auto suppliers will also go under, glass, audio, and other car trinket suppliers, putting more people out of work--> no cars to deliver, so less truck drivers will be needed, towns where plants reside will feel the hit, grocery stores, restaurants, clothing stores, etc. all run the risk of going under because the plants are what drive the economy in most cities of the Midwest- especially Detroit And on and on it will go.
So I say end the class warfare that is forming in this country and help the auto makers survive and keep America as a major producer - not to mention saving millions of peoples jobs.
5 years ago