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This ultra liberal owns a Buick and a Subaru. Both were made in the USA. I have also owned a Chevy C-10 Pickup truck. After 40 years I think they finally declared it dead due to rust.
Bailing out GM saved more than autoworkers jobs. It saved the entire associated supply industry from iron mining to paint manufacture. That really helped the country. Bailing out financial gamblers in the mortgage banking and trading industry did not. They should have been hung out to dry.
Why do you understand the "job creation" ripples from something that you like, but not when it comes to the "rich"?
Wealthy people support many, many businesses, localities and social programs with their purchases and taxes.
For instance.....when a wealthy person buys a new Rolls Royce in NJ, they pay about $17,500 in sales tax, and an additional NATIONAL gas guzzler tax of $25,000!
That funds a lot of freeloaders!
Not to mention their property taxes, which in some parts of NJ are as high as $50,000 annually!
Everyone should buy as much as possible that is made in the US by US companies. Otherwise, you're sending a good chunk of the operating profit to an overseas company.
If the American auto industry ever dwindled, it would affect far more than just your choice of vehicles. I worked for a Tier 1 supplier to the auto industry when the crisis hit. 40% of the workforce lost their jobs and we didn't just supply GM and Chrysler. The truth is that all manufacturers would suffer from a massive disruption in their supply chain. This would lead to the inability to produce vehicles for many of them for a significant period of time. If they can't make and sell vehicles, they will be laying people off too. Bottom line: the loans were appropriate and likely saved millions of jobs (maybe even yours).
Build a product that people want and you eliminate financial problems.
Why did we bailout the auto industry? Because it made sense to do so.
It saved millions of jobs, both in the companies themselves and in the supplier network. It also saved $29 billions of dollars in not-paid unemployment benefits because the workers were now working instead of being unemployed. Moreover, it helped the nation's balance of trade by denying foreign manufactures no competition for our market for vehicles.
Republicans hate it because it worked.
Obama isn't politicizing it. Mr. Romney, with all his self-proclaimed 'business experience,' was against the bailout and he was wrong. GM is a success story. To insinuate that Mr. Obama has no right to take credit for good decisions is ludicrous. He has a right to, as he would certainly be hammered by the GOP if it ended up being a mistake.
This thread is silly. Saying the those who thought the bailout was a good idea now should only buy Chevys is like saying that those who like the idea of free-range farms can only eat chicken.
That's just sour grapes. The GOP so wished that it would have been a failure -- to hang on Obama's neck. But since it was a success, they now have to crawl back to their corner with their tails between their legs and mumble that it really wasn't a success.
The fact is that we have millions of Americans working, that would have been unemployed if the government listened to Romney's advice.
How pathetic.
I would have approved of a structured bankruptcy.
What about the tens of thousands of local dealerships that were forced to close their doors due to the bailout?
All those hypocrites who say they are supporters of Obama need to buy an electric car to validate themselves.
Don't tell us what to do please, and not all Obama supporters are self-proclaimed "environmentalists." Just because I usually vote Democrat, that means I'm a hypocrite for driving a reliable and affordable car? Mkay.
Btw, why are you assuming none of us drive electric cars? For the record, my Democrat father just put a deposit on the new Tesla electric - pretty sweet! And in his case this actually does matter, considering his former roles in federal energy & environmental practices. Back when he worked at the White House, he was often teased for driving an environmentally-UNfriendly little VW Rabbit.
Quote:
Originally Posted by Mircea
I'm sure they will......as soon as they figure out a way to make everyone else buy the cars for them.
No, I'll buy one when/if they drop prices to somewhat competitive (compared to economic non-electric cars) levels - and when they start adding more charging stations where I need them. I live in a second-story apartment and work in a rural town, so how exactly would I charge the darned thing? I asked those questions at the Tesla dealer, and even the salesman couldn't come up with a good solution... his only suggestion was "maybe you can park at Google's campus overnight, and take a cab back & forth from there?" Kinda defeats the purpose of having a car, no?
It did not take very long for this to become a religious argument between the RW Free Marketers and the far more sensible supporters of government intervention in a crisis. I'll support intervention in the manufacturing sector any time because there is no such thing as a “Free Market". I do not support insuring financial speculators that turn equity markets into casinos. I would bailout GM but would have let the mortgage security gamblers destroy themselves.
So, if you work for a supporting company to a large company (that mismanaged their finances to the point of bankruptcy) and part of the government bailout was to close the business that you work for, you are okay with it?
Think things through before posting.
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