Mister Jimmy

Better to Let Automakers Go Bankrupt

Larry, I understand why a Canadian would voice this opinion, but unlike your country, the U.S. has no national health care plan. Private companies insure their employees, which is precisely the main reason companies like GM are in trouble. Foreign competitors Toyota and Honda also have nationalized health care plans, giving them a competitive advantage.

If GM goes BK, the other US auto companies and many, many suppliers will follow. As demand for unemployment benefits, welfare, Medicaid, and other Federal relief swells, the U.S. taxpayer will pay....and much more dearly.