Why Bailout the Auto Industry

Senator Chris Dodd said on Thursday that the votes did not exist in the Senate to bailout the automobile industry.....it seems there is no Republican support for this $25 billion bailout....

I wonder how they feel about a $200 billion plus hit to our federal budget if we DON'T bailout the automakers?

How big an impact would the loss of GM be? Think about the thousands of small manufacturers that make parts for the auto industry. Many are the sole good paying jobs in their community.....and as these small manufacturers disappear, so will local tax revenue.

There is no doubt American auto makers need to make the cars we want. They have improved overall quality 10 fold in the last 30 years and have some great hybrid models in the works. But they do have problems....they too have been hit hard by the credit crunch.....see GMAC....and the high cost of health insurance is killing them....but to sit back and do nothing to help the auto makers will hurt working Americans across America.