The Auto bailout bill died in the Senate Thursday due to GOP oposition. Some of the more influential Senators that are responsible for this are from states where foreign auto companies have there manufacturing plants. This should not be a surprise since the politicians so far have not rallied together to work for the good of all Americans. This is just one reason why we should not be optimistic for solutions to this counties economic problems to come out of Washington.
The politicians in Washington want to put the blame entirely on the auto industry but. the fact is that the auto companies were producing vehicles that Americans wanted and were popular. It makes sense that the they were not going to produce vehicles that would not sell. These vehicles (SUV's and mini vans) are by their very nature, expensive and fuel inefficient.
Who in there right mind thought that the American economy would deteriorate to its worst since the 1930's and that gas would increase to Four Dollars and Ten Cents a gallon? Clearly there is plenty of blame to go around.
What I find appalling is that the lawmakers are dragging their feet to help the auto industry with a LOAN, not a bailout, while the banks and mortgage companies practically got a blank check and they are the ones most responsible for this counties economic mess.
The government must intervene. GM alone has 100,000 retirees that depend on the industries pensions and health insurance. For these people to lose their benefits would be catastrophic to this country as it would also cause the loss of 2 million more jobs. Even the cost of gas back to 2003 levels has failed to do anything to stimulate the economy.
Lets hope that Washington can get its act together and do what it is that they need to do.
Don R. (red dog63)
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