Auto Industry bailout? pros and cons
Cons of an automotive bailout: http://www.cnn.com/2008/POLITICS/11/13/mitchell.auto/index.html
Pros of an automotive bailout: http://www.cnn.com/2008/POLITICS/11/13/granholm.energy/index.html
This will be short because I only have a few minutes. I will be the first to admit I don't know much about the economy or the solutions to its' problems. But to me, another bailout seems like a bad idea on the surface. My first instinct is that those companies were producing products that no one wanted and that is their own fault. It's about supply and demand and if they overestimated the demand and market trends, that's they're own fault.
But I also understand that the loss of 3 million jobs will be felt everywhere. and it's not the workers fault, it's really not. And I'm not even going to blame the unions. i don't know what will happen to those people if the bailout doesn't go through. My heart cares, but my head doesn't.
But again, if we bailout those companies, it's not like their sales are going to increase right now. Our economy is faltering and no matter what those companies decide to produce, not many people are in the position to buy it right now. So really, what will the bailout do?
There is one scenario that I am okay with, though I'm not sure how or if it would work. If the bailout can streamline the green movement, and actually was going to work towards achieving energy efficiency than I might be okay with it. If we turn those factory jobs in to "green factory jobs" maybe it wouldn't be so bad. But increasing gas mileage by 5 mpg isn't a big enough accomplishment for me to advocate a bailout so something else would have to be the central focus.
Anyone have any ideas or insight on this? I'm curious because I don't know what to think. My fiscally conservative side is scareming NO! but my bleeding heart is screaming yes (for no other reason than I don't know what all those laid off workers will do).