Wednesday, November 12, 2008

Detroit...let em burn?

Here's a run down of what's going on.

Detroit asks for billions to "retool" factories to produce more efficient vehicles.

Price of gas drops.

Detroit plans to start producing SUV's again as sales begin to climb.

Detroit (again) asks for billions to pay health care costs of work force.

Let 'em go bankrupt, I say. So does Megan. And she makes the awesome point that although the media argues that the bankruptcy of Detroit might put 2-3 million on the street, there is a finite pool of money in this nation, and if we pull $25 billion out of the taxpayer pocket to fund GM, Ford and Chrysler, we then remove $25 billion the taxpayers could have spent elsewhere. That means, in a way, 2-3 million other "invisible" jobs disappear.

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