Do you think the American Auto Industry should be bailed out?

I don't think so.

What do you think?

Where do the bail outs end? And won't another industry sue if the government doesn't bail them out, too? Who is deciding on this crap, you know? And who is really paying, (I know, you and I). And the argument has been put forth that even if the auto industry is bailed out, it will need it again in no time as 12% of the price of an auto goes to pay for retirees and union issues.

I think if you are going to do(Ididnt say we should) we had better look long and hard at it. Outdated technology with a limited supply. Should we or should we step it up too the 21st century?..JMO Free Market The economy is self healing..Proven. Conpanys fail, Goverments fail..

The slope is getting a bit slippery.

Only China owns more of its national industry than the US Gov't at this point.

I still wanna' know whose great idea it was to keep making SUVs in the last 5 years. The volatile price of gas is something the government SHOULD be warning industry leaders about, no? After all, Cheney and lobbyists have been making energy policy for years.

Nope. They government already offered them a $25 billion package and that should be it. The $25 billion was to upgrade plants and stuff.

I do beleive that the US Auto makers recently received $16 Billion dollars in grants to come up with "new" autos...

The kicker is all these bailouts is the lawyers are getting rich... The $50 Billion that GM is looking for is for the "merger" cost...

How much credit card or mortgage debt do you have?

The government bailed out the financial industry, AIG, and now it's talking about the auto industry!

What are they going to get around talking about helping average citizens with THEIR debt?

'They say that patriotism is the last refuge
To which a scoundrel clings.
Steal a little and they throw you in jail,
Steal a lot and they make you king.'

Bob Dylan, Sweetheart Like You.

I would replace 'patriotism' with 'capitalism'.

Im personally trying to understand you can help me http://mingle2.com/topic/show/181110 Feel free to...

It wasnt of topic, I just shared more on the topic

This one hits close to home as my best friends work for GM.

They are my age & I certainly do not want them to be out of work at this stage in their life....

BUT......NO.....Enough is enough.

But, was it not in the news recently that GM was going to buy out another car dealership (for lack of better words) THUS.. I do not understand this giving GM "bail out" money...or am I wrong on that one?

Lindyy

Lindyy,

I don't understand either.

Just like I didn't understand bailing out AIG while their executives were partying as their company was being bailed out by the government!

It seems that the government doesn't give a crap about the poor or middle class, who are drowning in debt!!!

So why should we care about these corporations!!!!

Libby the housing market really hit home to me. Florida is at the top of what really needs to be look at.

Let the oil companies bail out the auto industry. After all, Detroit's gas guzzling products have contributed billions in profit to them.

I will say this...we are facing many things but we can't be fearful or we won't get the ideas needed to correct these problems. Here's what I don't want to happen...

That we give them the money & they go out of business while CEO's walk away with millions.

That they junk all the vehicles that aren't selling instead of donating them to charities who could use them. AFTER they use kits that have been shelved to make these vehicles more fuel efficient that is.

I don't want to give money to the industry but I don't think the auto workers should lose their jobs or be forced to work for nothing either.

Our legislators should not have to rush some bill thru under pressure either. Mistakes are made that way. I hope OBAMA doesn't let the political peddle pushers push him around either.

I agree! But we are going to do it anyway. now what?

JMO, and I reserve the right to be wrong with it Obama will push for the bailout of the auto industry for one reason...he sold his butt to the unions to get elected. Saw tonight on the news (abc) that it costs GM $71 in hourly wage per person to produce a car. It costs Toyota $56 an hour. GM blew it on their business paradigm for the last ten years. Let them pay the price for their errors, or they will just continue on with the same bad decision making. I am sorry for the employees, but, perhaps their decision-making by embracing a company that has been losing money for years shows that perhaps part of their problem is of their own making?

You have no idea what you are talking about. Many bad decisions by the auto industry is not the fault of the workers. Those were corp. decisions. They should not be bailed out only to leave their debt to the taxpayer in addition to leaving working class people jobless.

That is not free enterprize but corp. welfare. blaming thw workforce is not going help find solutions anymore. Americans have sacrificed too much for years & it's time they had a voice again. ALL workers...not just unionized.

I think that they make a quite a profit on new cars.