Auto Bailout. Is it good for America?

The auto bailout has come arise during peculiar circumstances. There wouldn’t have even been a mention of an auto bailout if it wasn’t for the recent economic mini depression in most recent years. Ever since the housing markets have collapsed with the banks giving out bad housing loans, there has been a domino effect into an economic depression. While this has happened in recent times, the auto company has been right in the middle of the depression. The automotive industry makes a huge part of the economy because it employs so many jobs in the United States. The main companies that were affected by this nightmare were the Chrysler, General Motors, and Ford companies. The main thing ...

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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). ...

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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 ...

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Auto Bailout. Is it good for America?. (2011, May 10). Retrieved January 25, 2020, from http://www.essayworld.com/essays/Auto-Bailout-Is-it-good-America/99034
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PAPER DETAILS
Added: 5/10/2011 06:41:48 AM
Submitted By: djrobbyde
Category: Government
Type: Premium Paper
Words: 2350
Pages: 9

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