Auto Industry Bailout

The auto industry is a complicated network of manufacturers, suppliers, and builders. Knock one link out of the loop, and the whole industry comes crashing down. Nevertheless, Detroit has known this all along: it doesn’t pay to give unions what they want, when Detroit can’t supply it. Detroit has known that something like this would happen for years, yet they chose to ignore it. And now they fly their fancy-shmancy private jets to Washington to beg and plead for $25 billion.

Congress: It’s Detroit’s problem. They weathered the Great Depression, there’s no reason why they couldn’t do without an additional $25 billion in their pockets.

Detroit: Get your act together, cut the fat, and ride it out.  It shouldn’t be the average American taxpayer’s problem that you keep digging yourself deeper and deeper into the hole of no return.

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