Chevrolet Corvette Stingray C7 Forum - View Single Post - Well, It looks like the government won't help GM

xl1200r · 11-13-2008, 03:49 PM

If GM goes under, it means:

-2.9 million jobs affected
-$100 billion in lost wages/salaried
-$100 billion is lost tax revenue for Washington
-Unemployment hits 10%

I hate to play the polotics game, but the Republicans have some good reasons for not wanting to bail these guys out. Personally, as much of supoprter of pure capitalism as I am, I tend to agree with the Dems that GM (and Ford, Chrysler) need to be kept afloat. The cost to save them is much less than the cost to lose them. And frankly, the mess they're in is in large part due to policies and legislation the government imposed.

GM will survive, whether it be by a government package or by bankruptcy.

11-13-2008, 03:49 PM	#21
xl1200r Drives: 2006 Cobalt SS/SC Join Date: Oct 2008 Location: Cohoes, NY Posts: 109	If GM goes under, it means: -2.9 million jobs affected -$100 billion in lost wages/salaried -$100 billion is lost tax revenue for Washington -Unemployment hits 10% I hate to play the polotics game, but the Republicans have some good reasons for not wanting to bail these guys out. Personally, as much of supoprter of pure capitalism as I am, I tend to agree with the Dems that GM (and Ford, Chrysler) need to be kept afloat. The cost to save them is much less than the cost to lose them. And frankly, the mess they're in is in large part due to policies and legislation the government imposed. GM will survive, whether it be by a government package or by bankruptcy.