To Bail Or Not To Bail

According to a recent poll, the country is practically split down the middle when it comes to bailing out the big three automakers. Forty-five percent of the people are in favor of the bailout, forty-four are not. The auto industry is the last bastion of the industrial era in America. The high paying International Harvesters and the Firestone plants are a thing of the past. It's going to take more than using a glue gun on an assembly line to make the big bucks. Passing down jobs like family heirlooms is over. A little thing called a right-to work state has put a major dent in unionized labor. Where else in the workforce can a worker make over $100 hr. with wages and benefits and can't read or write?

The Big Three automakers employs about 3 to 4 million people. The auto industry itself employs about 10 million people or more. In a nation where 144 million workers are employed overall. Either one makes up a substantial number of jobs. The country is between a rock and a hard place. Can we really afford not to bail the automakers out ? Needless to say their demise would have a rippling effect. Though I don't like it , much like other phases of the bailout. I have to go along grudgingly. I'm not so sure this country is prepared to be taken off supplements. It would cause culture shock. A thriving auto industry is somewhat symbolic. I personally think bailing them out is like pouring water in a bucket with a hole in the bottom. Soon as you stop adding water, it's going to get empty. The question still remains. To bail or not to bail.

http://economix.blogs.nytimes.com/2008/11/17/how-many-jobs-depend-on-the-big-three/