Relief for American Automakers

Posted by spaul on 09/18/2008

 Chevy Volt

Capitol Hill may turn its attention to domestic automakers in the coming weeks.  Ford, Chrysler, and GM are seeking $25 billion in federal loan guarantees to boost their innovation and provide some desperately-needed capital investments.  But one company, GM, won't commit to make its battery for the electric Volt, scheduled for a 2010 rollout, in America.  The automakers offer compelling arguments for federal assistance, and a thriving domestic auto industry is one of the cornerstones of American manufacturing and good paying jobs. Moreover, if the government is willing to bail out AIG, Freddie Mac, Fannie Mae, and Bear Stearns, ostensibly to protect the wealth and savings of American workers, why should it not provide some protection for their jobs? It seems to ManufactureThis that Washington should respond, as long as there are appropriate guarantees for domestic employment and production. But the bigger picture remains the same.  Unless we reform our flawed trade policies, enforce domestic trade laws, and recognize that our health care and tax systems harm domestic production, we'll be back to square one again in a few years.

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Car-Corey wrote 5 years 48 weeks ago

I think the Feds should

I think the Feds should really think about backing our domestic Auto Industry because if they don't do something now there are many other auto industries out there already looking to expand into the North American market - take China for example - http://www.monsterauto.ca/chinese-cars.php

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