Mister Jimmy

More Federal Money Won't Help the Big 3 Automakers

Serious, painful and meaningful concessions from all stakeholders should be mandated before Federal funds are extended to the auto industry. Bankruptcy, however, would be a disaster. It would ensure its liquidation and mean the loss of billions in tax revenue, cause the failure of many local communities, put tens of thousands on to Medicaid and Federal unemployment benefits, increase our dependence on foreign powers...and the list goes on. So, if you think that bankruptcy is a less expensive alternative for the taxpayer, think again.