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Why The Auto Industry Should Be Bailed Out

The opinions expressed in the following editorial are not necessarily the views of AllHipHop, its employees, or associates.The holiday season is here,

and consumers are left wondering if they will be able to afford

Christmas gifts for their loved ones. As more people are being laid

off from their jobs, the economic crisis is on the minds of many. Americans are forced to reconsider their budgets as economists warn

that this is not the end of our woes.

While we await the leadership of a

new president, many wonder what can be done immediately to change the

worst economic hardship this country has faced since the Great Depression.

While people from different income brackets are facing this crisis

together, many are wondering what congress is going to do. Webster’s Dictionary has elected “bailout” as the most overused term this year. However,

these “bailouts” have become a way of life as Congress attempts to determine who is  in need of assistance.

While many people were grateful for bailout

given to the banks, it deeply saddens me that many are against

bailing out the auto industry. Perhaps, it is the look of disgust from a white

collar worker onto a blue collar worker. However, what many Americans do not

realize is the severity of this issue if Congress does not bailout the automotive

industry.

What people must realize is that the auto

industry employs more people than any other industry in this country. From

the everyday Joes who are auto mechanics, specialty car washers and salesmen

to customer service representatives for auto parts on up to CEO’s. In addition, the auto industry crisis doesn’t just

impact its current employees either. The folding of the auto industry also

impacts all of the previous employees who have put their whole lives into

building the cars that we drive today. There people who have been with General

Motors and Chrysler for years who are now forced to forego the benefits they once had due to a lack of funding. Let’s not forget those who have

invested in their 401Ks and other investments which are tied up within their

company.

Have we forgotten about Enron and all of the

men and women who lost their whole lives investments due to a company’s

bankruptcy?

Although I don’t think that Congress should

be responsible for bailing out every failing industry, I do believe it is Congress’ responsibility to think rationally about who needs help. Many people

were dogging out the CEO’s because they flew in private jets to DC.  However, what most people didn’t realize was that

they didn’t fly together for security reasons. If something were to happen or

if somebody is killed during the trip, not all of their secrets are buried with

the dead. It’s funny how people were quick to gripe about how that was a waste

of money but failed to realize that the CEOs of these banks are still getting

multi-thousand dollar end of the year bonuses.

I believe if Congress did decide to bailout

the auto industry, thousands of jobs would be spared; not just within Detroit

but all over the United States. Whereas anybody can get a job working at a

Car-X, Wal-Mart, car dealership, car wash, and/or car manufacturing factory,

not everybody can get a job working in a bank or become a realtor.

Prior to this recession, only 5% of the

total population was within the true status of being ‘wealthy’; meaning 95% of

the masses are not. Everybody is crying about the tax

payers’ money, but we are all tax payers. The majority of people need the money

that they spend without missing it. It is not just the blue collar workers

struggling to make ends meet; white collar workers are feeling the crunch

too.

I say let’s bailout the auto industry in hopes

of restoring people’s jobs and hopefully preventing more people from continuing

to  losing their homes, benefits, 401Ks,

and pensions due to a lack of funding.

In the meantime, it’s politics as usual.

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