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O's 50 Billion Plan
BAR wrote:
Boater wrote: Eisboch wrote: So now Obama has recommended emergency loans to GM, Ford and Chysler and is also pushing for a $50B bailout package to tide them over for a while. Here's a quoted passage from the article: "If the plan were to offer no strong guarantees against layoffs it would likely draw fire from unions. But Obama advisers have been persuaded that the impact on current workers and retirees would be staggering if the companies went into bankruptcy." Here's what I don't understand. To the best of my knowledge, only 12 percent of the total American workforce is Union. Obviously the number of union auto workers is a much smaller percentage. So, Obama thinks that the taxpayers should cough up $50B to save the jobs of a relatively small percentage of the workforce? What about the millions of people working in non-union small businesses? They are being affected by the economic slowdown as much as the auto industry's union workers. Are they going to get a dedicated and specific bailout as well to keep the companies they work for in business? Those unfortunate enough to get laid off due to work slow downs typically apply for unemployment benefits and try to find a new job. Why do the employees of GM, Ford and Chrysler deserve more consideration? Is this part of the "share the wealth" plan? Eisboch Whoooooooosh. Unions, a just a powerful special interest group. Better funded than and listened to more often than most of the K street lobbying firms. I wish that were so. |
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