Quote:
Originally Posted by Charles
I thought this whole GM bailout thing was about creating good paying jobs in America.
Why should the taxpayer be on the hook for billions so that they can invest in China or Mexico?
Chas
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The bailout was to keep the American auto industry solvent. The US auto industry, when solvent, has long employed people overseas (Canada, Germany). The Chinese and Mexican workers in GM plants will presumably earn a living wage that will allow them to buy GM products, thereby helping with solvency. They will also use their wages to buy other American products.
I guess my point was that in today's shrinking world, we cannot bitch too loudly about American auto companies building cars overseas when at the same time we lobby to get BMW, Mercedes, Toyota, and Honda to build cars here. What goes around comes around.
08-05-2010, 02:40 PM
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