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Up until this afternoon, I was ok with the big 3 going belly up. But then I started to think about US auto sales and what they actually mean to our economy.
I don't know what the combined revenues of the big 3 are, but let's assume it's $25 billion. Almost 100% of domestic auto sales dollars stay in the US. If they all go belly-up, then 90% of that same $25 billion will be exported dollars never to be spent on US goods and services. That money will never be used to pay workers for jobs or be re-invested in our economy.
I think in these difficult times, that risk may be too great.
I don't want to help them if major changes aren't made. Less emissions and better gas mileage would be ideal; but their union must come to terms with the fact that they are overpaid. If the workers won't accept pay commensurate to what Toyota and Honda pay auto workers to assemble cars in Ohio, and what Saturn pays, then the big 3 will never be able to compete and any money we give them will be wasted.