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53% Oppose Government Loans to Automakers

Discussion in 'News & Current Events' started by Revmitchell, Dec 13, 2008.

  1. Revmitchell

    Revmitchell Well-Known Member
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    Even as the White House and Congress put the finishing touches on a $15 billion rescue package for the Big Three automakers, 53% of U.S. voters say they oppose taxpayer-funded loans to help keep General Motors, Ford and Chrysler in business.


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  2. Revmitchell

    Revmitchell Well-Known Member
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    53% Expect Auto Companies To Come Back for Even More Money

    Fifty-three percent (53%) of Americans say it is Very Likely that the Big Three automakers will be back for more government money next year even if Congress revives the $14-billion taxpayer-backed loan package defeated last night in the Senate.


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  3. Spinach

    Spinach New Member

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    I'm mixed on this. My biggest fear is that should the big 3 go down, a LOT of Americans go down with it! Most of my family is tied to the big 3 in one way or another. The loss of jobs would be monumental!
     
  4. LeBuick

    LeBuick New Member

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    I agree with you.

    I don't want to see the industry go down but I also don't want to throw good money down the drain. My problem with the bankruptcy is the Republican's eagerness to break the union. I think a bankruptcy will come out very bad for the workers because it will be full of political influence.
     
  5. Martin

    Martin Active Member

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    I don't put much stock in what the "majority" of Americans believe/say. Why? Because the majority of Americans voted for Obama, the majority of Americans know little to nothing about civics, American history, or economics, and they certainly don't know enough about the current economic situation and the impact a failure of one/two of the major three American car companies would have on the economy to make an educated/meaningful statement on the matter. Sadly the same is true for the majority of our elected officials.

    I don't look to the popular opinion polls on this matter, I look to the situation and ask myself two simple but complex questions: (1) Would it be better for our economy if the three are allowed to fail (and one or more of them do) and millions of jobs are lost? (2) Or would it be better for our economy if a portion of the money already taken from the taxpayers, for bailout purposes, is reassigned and loaned to the companies with strings attached? I admit neither option is good, neither option is fair, and both options come with tons of bad news. The first will bring millions of job losses (far more than outsourcing did) and it will bankrupt state unemployment funds that are already having trouble. The second will bring more national debt and may not at the end of the day solve the problem in the long term. However the second option does have the benefit of solving the problem in the short term. That would allow the economy to recover (a bit) before one or two of the "big 3" sink.

    So there are no good choices here. And sadly I must report to you that, in this hour of trial, our leaders in Washington are not up to the task. We, the American people, have failed to hire qualified men/women. Instead we have hired liars, crooks, and self-interested politicians. Therefore we are bound to end up with a solution that serves only to help the Washington fat cats and not the American people. But we the American people are reaping the bad fruit from the many bad seeds we have sown. We have only ourselves to blame.
     
  6. billwald

    billwald New Member

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    "our Economy?"

    There are two parallel economies: one for people who borrow and have income, the other for people who lend and have capital gains. One can rise while the other falls. Except for the freak post WW2 economy most of the productivity goes to the lenders. We are reverting to normal.
     
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