17 November 2008

US Car industry and bailout

This business with the auto bailout is tricky. It seems the federal government is keen on bailing out the fake economy (banking and such), but into leaving the real economy (industry) high and dry.

I cannot imagine the effect if GM suddenly ceased to exist. Millions of people would be without jobs and benefits. Double yikes! But then again, Cimarron!

A better idea may be to take GM's healthcare costs off its books by enrolling its employees in a universal health insurance program. If we are spending this money anyway, we should get something nice in return.

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