Should we bail out big auto?

Should we bail out big auto?

Nope.

Sooner or later, everyone who’s made a bad decision has to take his lumps. Automakers have spent decades making bad decisions, and they’re going to have to face it.

Yeah, it’s tough to think about all those high-paying jobs being lost. But if they’re not value-added activities, they need to end.

This “bailout” is really corporate welfare, in which the rest of us get to subsidize the wages of automakers because their own efforts can’t justify their pay. Terrible idea.

I live in a city that twenty years ago went through a local depression; energy, transportation, and defense jobs went away simultaneously. It was painful - extremely so - but not ruinous. The economy diversified, some of those cyclical jobs returned, and things are better now.

So it’s far better to pay the piper and get over it than to throw good money after bad trying to perpetuate an unsustainable economic model.

Scott