Auto Bailout.......

[horsechick]

Hi,
What does everyone think of this new load?

I strongly urdge everyone to write their reps and let them know!!!!!!

You can go to www.ethepeople.org and find all their info and write them.
Let your voice be heard!

Take care!
Angela

 

[debilorrah]

i am afraid I haven't heard the new news. Is the government stepping in?

 

[kstaven]

Interesting question to ask is, where is the money coming from and how do you ever pay off more debt than there are funds/assets in the entire system?

 

[PurpleChicken]

Quote:
It's simple really, just print more money.

Our gov does it all the time.

 

[kstaven]

Printing more money just increases the debt load. The federal reserve tacks interest onto every dollar printed and loaned to the government.

 

[Feathers Acres]

I dont know, but I do know it shure means alot here in Michigan

 

[debilorrah]

I hate to repeat myself, but what happened? I have been stuck on transit funding issues all day.....

 

[PurpleChicken]

From Yahoo Finance:

Republicans insist that any automaker bailout money instead come from redirecting a $25 billion loan program approved by Congress in September to help the industry develop more fuel-efficient vehicles. The GOP would lift restrictions on that money to speed it to the carmakers.

Democrats want to leave that money alone and give the industry an additional $25 billion from the financial bailout funds -- for a total of $50 billion.



So as I read it the Republicans want to loan the auto industry money
in order to produce vehicles that use less fuel and can compete against
the global automakers like Toyota, Honda, Benz who are already
producing cars the market is demanding.

Doesn't this sound like the late 70's and early 80's all over again???

All 3 US automakers deserve to die. They dug their own graves and
the unions handed them the shovels.

My trouble with this is where do we draw the line? Can we as a nation
afford to lose any more manufacturing jobs?

I really don't know what to do. What I do know is I'm mad that
Washington and the auto makers allowed it to come to this.
I also don't want to see all those people lose their jobs.

 

[debilorrah]

Oh well just

I don't have the energy to discuss this tonight.

 

[PurpleChicken]

Quote:
Yes, sort of. It also decreases the value of the dollar, sort of.