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
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 doesnt 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. Lets not forget those who have
invested in their 401Ks and other investments which are tied up within their
Have we forgotten about Enron and all of the
men and women who lost their whole lives investments due to a companys
Although I dont 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 didnt realize was that
they didnt 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
I say lets bailout the auto industry in hopes
of restoring peoples 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, its politics as usual.