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Auto bailout? #467449
11/11/08 01:34 PM
11/11/08 01:34 PM
Joined: Aug 2008
Posts: 318
Illinois
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toddzgrrl02 Offline OP
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So now I am hearing about the auto industries wanting help too. (maybe they should stop making gas guzzling SUVs that no one in their right mind should be buying unless they live someplace it is necessary!) but anyway, why should we bail them out too? Does this seem like a sensible way to use OUR money?

Obama seems to think so.

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Last edited by toddzgrrl02; 11/11/08 01:34 PM.

Michelle
Re: Auto bailout? [Re: toddzgrrl02] #467456
11/11/08 01:54 PM
11/11/08 01:54 PM
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Missouri
Straycat Offline
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Hopefully he will keep helping Amtrak. Cars are a big expense with the initial buy, gas, insurance, registration, parking. We should take a lesson from other countries who have a much more efficent rail service.



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Re: Auto bailout? [Re: Straycat] #467484
11/11/08 03:38 PM
11/11/08 03:38 PM
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Texas, US
Lynn_B Offline
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In addition to more bailout money for the finance industry (AIG this time) and the auto industry, the new "economic stimulus package" is also likely to include an extension of unemployment benefits for those who cannot find work.

See the Chritian Science Monitor article - Auto Bailout?

Re: Auto bailout? [Re: Lynn_B] #467828
11/13/08 01:51 AM
11/13/08 01:51 AM
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Nevada
CrochetQueen Offline
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Just in case anyone wants to see, here is a link to a unemployment chart so that you can fairly compareBellaOnline ALERT: Raw URLs are not allowed in these forums for security reasons. Please use UBB code. If you don't know how to do UBB code just post here for help - we will help out!

Last edited by CrochetQueen; 11/13/08 01:57 AM.
Re: Auto bailout? [Re: CrochetQueen] #467966
11/13/08 03:02 PM
11/13/08 03:02 PM
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saga61 Offline
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I'm no auto industry expert, but it seems to me that bailing them out will only be artificially propping up the industry. How much money will it take, and how long can this be sustained? As for Obama's economic plan, I've heard that there's no way he can keep his promises of tax credits without running the economy even further into the ground.

Re: Auto bailout? [Re: saga61] #467976
11/13/08 03:23 PM
11/13/08 03:23 PM
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Texas, US
Lynn_B Offline
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Run the unemployment data back to 1970. The big spikes in unemployment were arond 1973-75 and 1980-83.

Re: Auto bailout? [Re: Lynn_B] #468210
11/14/08 06:34 AM
11/14/08 06:34 AM
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Nevada
CrochetQueen Offline
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Nevada
And for those dates, we had Republican presidents:
President Richard Nixon 1969 to 1974
President Gerald Ford 1974 to 1977
President Ronald Reagan 1981 to 1989

All Republicans

Re: Auto bailout? [Re: CrochetQueen] #468214
11/14/08 06:47 AM
11/14/08 06:47 AM
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whoisjohngalt Offline
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Isn't the idea of capitalism to allow a company to have the opprotunity to not only succeed, but also to fail? If we bail them out, then what incentive will they have to do anything better the next time?

We saw what the mortgage companies did with their money (Expensive Expensive Spa- Field weekends for their executives).
Why do we believe the auto industries will be any different?
Give Capitalism a chance smile

-whoisjohngalt

Re: Auto bailout? [Re: whoisjohngalt] #468312
11/14/08 03:14 PM
11/14/08 03:14 PM
Joined: Feb 2006
Posts: 2,172
Texas, US
Lynn_B Offline
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"All Republicans"

Yes, they were all Republican presidents. Though I would say party affiliation has little meaning (just as it does now).

I will say, though, the spike we saw in the early 80's followed the mess left behind by Carter. It takes time to fix messes and practical policies and know how to do it. Something neither Nixon, Ford, Carter or Obama had/have good track records with.

Re: Auto bailout? [Re: Lynn_B] #468328
11/14/08 04:00 PM
11/14/08 04:00 PM
Joined: Dec 2005
Posts: 5,582
Hudson Falls, New York
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Vance - Crime Editor Offline
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We wouldn't need a bailout if it wasn't for NAFTA. Say what you want, but that killed our industries here.


Vance Rowe
Crime Editor
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