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11.20.2008 ||> Bailouts
I was going back and forth on the big auto bailouts and whether or not I liked them, and then I read this comment on Daily Kos:
The GOP never dreamed it would get to kill a massive part of organized labor and have an entire region of the country completely collapse on the Democratic parties watch to boot, but that is just the opportunity that has arisen for the Limbaugh/Coulter wing of the GOP.I don't exactly read DKos for the comments - occasionally it's like wading in a cesspool, even though it's a community of people I agree with. But this comment was spot on and I got to say, I'm on board now. If we are going to be giving away 700 billion to shortsighted bankers, we could at least shell out a small fraction to help 4% of our GDP and our unions.
A 25 billion dollar loan, with strings attached mandating the auto industry stay the fuck out of monkeying with healthcare reform and making them go green or else, could save hundreds of billions of dollars in social spending over the next 10 years alone.
10 to 12 million jobs lost, boom!, 200 to 1 trillion dollars in emergency social spending to deal with the collapse's impact on the region, the UAW dead and Wal-Mart the biggest employer in the region, Michigan in full economic collapse and millions of voters ripe for being in play in the next round of the Culture War.
The GOP, and the media pundits who are all clamoring for Obama and the Congress to let the auto industry die will be damning us and running against the Democratic Party as the party that 'Let Michigan Die' or 'Let Detroit Die' for a generation if the auto industry is allowed to die.
The auto industry is 4% of our GDP.
If it goes, thats several years added on to the economic crisis that we face.
Labels: politics
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