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badice.com ~ travel musings for the masses

With all of the talk about bailing out the auto-industry I started wondering what would happen if we bailed out the Big 3 automakers and still they failed. It is a very real possibility. Pushing money to a problem and committing government “oversight” to something does not ensure an entity’s ability to thrive, just look at Fannie and Freddie.

If Washington rescues Detroit and the auto companies fail anyway, then we have essentially shot ourselves in the foot. Sure, Washington can continue to print money, devalue the currency and attempt to pay off debt with more debt but in the long run it just will not work.

I understand that a lot of people would lose their jobs if we do not do something about the automakers, but I also understand that we can do something and still have a lot of people lose their jobs. This fact is little talked about and seems that it is one of those things that “we can worry about later”. Yep, let the later generations pick up the pieces…

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