The $700 billion Wall Street horse pill was swallowed by taxpayers with some difficulty, but we got it down. Now we’re considering the next dose—a rescue plan for Detroit automakers.
“Enough is enough!” says Eusebia E Aquino-Hughes. “We as taxpayers cannot continue to bailout American companies like Wall Street and [the] Auto industry.”
“OFF WITH THEIR HEADS,” says Eoghan, making a delicate reference to the Big Three CEOs.
“This is capitalism and we have already bailed out enough institutions,” says X. “We need to stop at some point or else there is no end.”
I’ve had enough, too. I sympathize with Eoghan’s comment—the Big Three talking heads always have an explanation and it usually involves blaming the consumer. Like X, I worry about where the end is.
Let’s not succumb to bailout burnout. That’s not easy when we’re worrying about our jobs, our families, and our communities—and we’ve already doled out $700 billion.
David says “the American ambivalence to saving the U.S. auto industry is a profoundly spiritual reaction.” The “cold attitude toward millions of people who depend on the auto industry, I fear, feels like Americans who’ve been shocked into sobriety about harsh global realities—who now are willing to trash the giant industry that once built our favorite gas-guzzling toys.”
These issues are complex, and we need to avoid the easy out.
As Pam says, “Yes, many mistakes have been made over the years. But all three and the UAW made major restructuring changes recently and are producing cars with equal quality to non-US automakers. And then the perfect storm hit hard. Why is everyone so eager to forget progress and discuss sins of the 80’s and 90’s?”
Craig hopes that the deliberations about U.S. automakers will avoid the “false construct of ‘either/or,’ of hard, almost-by-definition-wrong absolutist policy positions that disallow a more reasonable compromise that seems to balance benefits and risks, that doesn’t solve anything perfectly, but avoids epic disaster on all fronts.”
Our lame-duck lawmakers are facing bailout burnout, too.
What do you want them to do?
Where are you today on the auto industry dilemma?
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