politicaleconomitalk

Why would congress even think twice about making a loan to the American auto companies.  The industry is huge and the ripple effects throughout the economy will be disastrous if they cannot survive. 

There are millions of people who work in the industry and jobs related to the industry.  There are also millions of retirees who will be harmed.  Yes, there needs to be some big changes in the way these companies operate so that they can be profitable in the future and also bring out new technology.  But they are asking for a low interest loan not necessarily a bailout. 

Does the union need to make some concessions?  Probably so, but this is a longer term issue.  Congress needs to deal with the emergency at hand and fast.  These other issues can be delt with in the near future.  They are pretty complex issues and so they will take some time to work out,  But certainly this can be done early next year.  The loan needs to be made early next week, that is how serious the situation is.   Thank goodness we have men like Carl and Sander Levin in the congress to represent the Michigan.  They understand how serious the situation is and haw bad the economy is in Michigan and how bad it will become not only in Michigan but in the whole country if loan money is not forthcoming.