StrictNon-Conformist

Automaker Bailout Fails: This Is Not Good

Well, unless the government somehow pulls a rabbit out of a different hat, this is going to get incredibly ugly. If the UAW had been willing to make concessions, it had a reasonable chance of only being ugly.

We can only hope that all those auto workers and the workers of all the suppliers have been wise enough to have saved enough cash away to live and reinvent themselves better than they were before, and keep the economy humming along, or else taxpayers will be stuck with a far larger expense for unemployment costs, combined with lost tax revenue and a larger number of foreclosures due to mortgagees not being gainfully employed at all, as opposed to (perhaps) a smaller number of inevitable foreclosures of those that were living too close to the edge already. Oh, and let's not forget the retirees that may find no pension benefits that'll suddenly need to be covered by Medicaid, and all that does, too.