Should The Big Three Car Manufactures Be Bailed Out By The U.S. Government? By: Alex Burslem
The big three car manufactures; Ford, General Motors, and Chrysler, should be bailed-out by the US Government instead of allowing them to go bankrupt. The money spent by the US Government to save these companies would be worth the investment. The US economy would suffer due to the lack of car production, many jobs would be lost and the stock market would decrease. It could create a negative reaction in our economy similar to the Great Depression in the 1930s which could affect millions of Americans.
If General Motors, Ford, and Chrysler went bankrupt, 2.6 million American jobs will be lost. This information came from ProQuest. This would mean about a quarter of a million workers, including women and men, would lose their jobs. People would not have money to pay their bills and feed their families. This would impact car plant workers, sales people, mechanics and the people they buy products from. Men, Women and children and many families would feel the impact. All workers who are indirectly tied to the automaker would suffer too.
Another potential problem if the big three car manufactures were to fail is our defense industry and national security would be jeopardized. This article came from the ProQuest. The automakers manufacture a mine-resistant ambush-protective vehicle for our soldiers. If the big three collapsed, who would make vehicles for our army?
Congress gave car manufactures about $25 billion dollars to adapt to their factories so car manufactures can make more fuel efficient cars. Since Congress has already given money to the industry and can do so again. Washington must help keep the companies running and their employees working, so the economy doesn’t collapse. Too many people depend on this industry.
The big three car manufactures; Ford, General Motors, and Chrysler, should be bailed-out by the US Government instead of allowing them to go bankrupt. The money spent by the US Government to save these companies would be worth the investment. The US economy would suffer due to the lack of car production, many jobs would be lost and the stock market would decrease. It could create a negative reaction in our economy similar to the Great Depression in the 1930s which could affect millions of Americans.
If General Motors, Ford, and Chrysler went bankrupt, 2.6 million American jobs will be lost. This information came from ProQuest. This would mean about a quarter of a million workers, including women and men, would lose their jobs. People would not have money to pay their bills and feed their families. This would impact car plant workers, sales people, mechanics and the people they buy products from. Men, Women and children and many families would feel the impact. All workers who are indirectly tied to the automaker would suffer too.
Another potential problem if the big three car manufactures were to fail is our defense industry and national security would be jeopardized. This article came from the ProQuest. The automakers manufacture a mine-resistant ambush-protective vehicle for our soldiers. If the big three collapsed, who would make vehicles for our army?
Congress gave car manufactures about $25 billion dollars to adapt to their factories so car manufactures can make more fuel efficient cars. Since Congress has already given money to the industry and can do so again. Washington must help keep the companies running and their employees working, so the economy doesn’t collapse. Too many people depend on this industry.