Are you willing to write a check for $874 to keep GM and Chrysler from going away?

Posted: Feb 20, 2009
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Are you willing to write a check for $874 to keep GM and Chrysler from going bankrupt? According the Detroit Free Press, after you add up all the billions that the auto industry is requesting, the number that pops up on the calculator is $97.4 billion – that’s equal to $874 from every U.S. household.

But that’s not where it will end. Analysts and experts (and we highly doubt you needed them to tell you this) say that more requests are inevitable if consumers don’t start buying new vehicles. Analysts also question how long Ford can last without government help. The Dearborn automaker spent $5.5 billion in cash in the last three months of 2008.

The $97.4 billion includes a request for a total of $39 billion from General Motors and Chrysler LLC, $25 billion being sought by suppliers and another $25.4 billion in retooling plants to pump out more fuel-efficient vehicles.

According to White House spokesman Robert Gibbs, President Barack Obama “understands that whether it’s financial stability, whether it’s banks and the lending system, whether it’s the auto companies, there can’t be a bottomless pit to this.”

Source: Detroit Free Press


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  • Neil

    NO NO NO!!!

  • 01raptor

    if it meant heping the economy by saving these companys i would do it in a heartbeat.

  • kabluey

    No! They should goo bankrupt! If the public believed in them then they would have bought their products in the first place—and the situation would not have come to us bailing them out!!!

  • Pat

    I agree with 01raptor… if this meant saving our economy…i would do it. If this mean helping Detroit… i would not.

  • zermatt

    Agreed.

  • JC

    Are you willing to pay $2 to let me be lazy the rest of my life?

    Are they joking!?!?! Are we subsidizing mediocrity. These people deserve to go bankrupt. The recession has only highlihgted a fact that's been brewing for many years before. GM and Chrysler (and Ford) have not been able to compete with imports and now they are asking for hand.

    What ever happened to FREE MARKET ENTERPRISE? whatever happened to rewarding performance!!!!

    If it were up to me they would not get a DIME.

  • JC

    once you do it with one (the biggest one in this case sets up a pretty big precedent) then everyone else wants a piece of the pie. NExt thing you know people will call you Comrade Raptor.

    Let the economy “suffer”… I prefer to call it an adjustment. A world leading economy does not grow by rewarding laziness or in this case incompetency. People must suffer and be accountable for their stupidity, if you take that away, you are digging a bigger hole.

  • JC

    Are you willing to pay $2 to let me be lazy the rest of my life?

    Are they joking!?!?! Are we subsidizing mediocrity. These people deserve to go bankrupt. The recession has only highlihgted a fact that's been brewing for many years before. GM and Chrysler (and Ford) have not been able to compete with imports and now they are asking for hand.

    What ever happened to FREE MARKET ENTERPRISE? whatever happened to rewarding performance!!!!

    If it were up to me they would not get a DIME.

  • JC

    once you do it with one (the biggest one in this case sets up a pretty big precedent) then everyone else wants a piece of the pie. NExt thing you know people will call you Comrade Raptor.

    Let the economy “suffer”… I prefer to call it an adjustment. A world leading economy does not grow by rewarding laziness or in this case incompetency. People must suffer and be accountable for their stupidity, if you take that away, you are digging a bigger hole.