Auto Bailout. Is it good for America?

Want to read the rest of this paper? Join Essayworld today to view this entire essay and over 50,000 other term papers

of a bailout say that the industry is a victim of the global financial crisis. Wall Street has been bailed out, so why not Detroit” (Isidore)? The author argues that the proponents have a well deserved argument. If other companies have been bailed out, why doesn’t the auto industry get a bailout? What makes Wall Street so important that they get bailed out? The downside to this argument would be that other companies would think if these companies get a bailout why not us? Obviously, the government can’t afford every company asking for a bailout. This puts the government in a predicament.
Many Americans agree that the U.S. shouldn’t depend on foreign companies. Charles wrote in from the U.S. News that “if we let them go under we will only increase our dependence on foreign cars and then they will just jack up the price to rip us off like the oil companies do. Next thing you know we will be paying $200,000 for a Toyota 4runner which costs $20,000 to make” (Charles). ...

Get instant access to over 50,000 essays. Write better papers. Get better grades. Already a member? Login

would feel the impact of an economic depression. It would be like a domino effect. If the automotive industry doesn’t get a bailout, the U.S. economy would go into a deeper depression which would have a bigger impact on the global economy. Why wouldn’t the U.S. bailout companies that were so kind and helpful to the U.S. during World War II? The same reporter stated that “the auto industry’s rapid demise would throw more than 3 million Americans out of work in a hurry, a shock even the United States might not survive” (Kipling). This is one of the biggest issues that the government is facing with. The loss of jobs would affect the economy enormously. What other jobs could these ...

Succeed in your coursework without stepping into a library. Get access to a growing library of notes, book reports, and research papers in 2 minutes or less.

CITE THIS PAGE: