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Old February 8th   #1
clintjohns
clintjohns
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Join Date: Sep 2009
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The Auto Industry Bailout - Still Debated But Worth Every Penny

http://autos.aol.com/article/auto-in...out-worth-eve/


"4. Like it or not, the auto industry is critical to the U.S. economy. CAR estimated the loss of 3 million jobs over three years if GM and Chrysler were allowed to go belly-up, with only about 240,000 jobs being at the auto manufacturers themselves. The rest were the attendant industries that interconnect with autos. The loss of personal income by the end of 2011 would have been $400 billion by the end of 2011, and the costs to the U.S. Treasury would have been $156 billion, according to CAR.

5. Symbolism and national pride and prestige matter. They are hard to measure in dollars, but it doesn't mean they aren't important. The U.S. is a car culture, not one that moves about via mass transit, unless you happen to live in the Boston-to-Washington corridor. "
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