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  • Reasons to Bail Out GM [View article]
    The reasons to bailout out Detroit is that Detroit has been struggling for decades with high labor, healthcare and pension costs. Detroit's pensions are grossly underfunded. Should the automakers fail, the US government and US Taxpayers will be on the hook for billions to pay the lush pensions and retirement healthcare benefits of the autoworker.

    The big problem will be convincing the american who was just let go from his minimum wage paying job at Best Buy, (retail workers are 10% of the american workforce) to support the bailout plan, by convincing the average american:
    a. Why It is better for the USA economy to rescue a UAW workers job (70 per hour in total costs, appx 34 per hour in wages), rather than a retail-workers job.
    b. Why it is better for the government to support the lavish pensions of the UAW worker (when the average american chump has no pension and has just seen his 401K plummet by 30+ percent)
    c. Why it is better for the american government to pay for the lavish healthcare benefits of UAW workers and retirees (when 25% of americans have NO health insurance)
    Nov 12 16:35 pm |Rating: +5 0
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