Class Warfare: Republicans Shut Down Auto Bailout
December 12, 2008
The bill to provide $14 billion in aid to US automakers has failed. As I have said before Republicans oppose the auto bailout because rich people don’t make cars. When the banks needed money, there was some conflict, but in the end we managed to give them $700 billion. Now that Wall St. is taken care of, do Republicans care about Main St? No, and they aren’t even willing to give Main St. a fraction of the money they gave to Wall St.
The auto bailout needed to happen. An auto industry crash is not something that may happen in the future, it is something that is already happening. Already, the auto parts industry is already experiencing a failure. Because nobody is buying cars, less cars get manufactured, which means that less parts get manufactured. People are already losing their jobs. Delphi, a leading auto parts maker, is hanging on by a thread. This is not an event happening in the future, it is happening now.
But Republicans are content to watch Detroit and other communities wither away as hundreds of thousands of jobs disappear. If we can bailout crooks like this, why can’t we bailout communities of workers?