How badly could the fall of the auto industry be for the US?

Saucy, the whole reason the auto industry is in the mess it's in is because of the unions. That pox needs to be remedied before anyone can move forward. Unfortunately, in a capitalistic society, companies have as much a chance to fail as they do to succeed. We can't go in there to bail these folks out when their workers are being paid an average of $70/hour.

You ask the question with regard to the repercussions of not bailing out these companies. What happens if we do? What will happen to Americans who earn a third less than union workers? Can the economy bounce back from that? Or will this entire country go into a state of Communism because its citizens have been driven out of necessity and desperation, to the trough of government subsidy?

I guess the more appropriate question is can we afford this bailout in the long run? We need to stop trying to put band-aids on these issues and start administering chemo-therapy to kill the cancer. Just my humble opinion...

If they claim bankruptcy, not everyone will lose their jobs. The companies won't go under, they will be restructured so that they can work more efficiently.

"The big 3" has been heading downhill for the last 15 years. An imbecile could have seen this coming. If the exectuives at these companies couldn't turn this mess around in that time, what makes us think they will do it now?? They are showing no signs of remaining competitive. Why should the government give them a handout and keep them competitive against Toyota and other foreign manufacturers, when those manufacturers are actually doing a hell of a better job?!?

Who knows, if the big 3 fall, maybe the market will open up for smaller American car companies to form and expand and maybe even do a good job and keep our auto industry competitive.

Using taxpayer money to try and correct this clusterf*ck is just throwing good money after bad.

Maybe 10% at the most. We have had 10% unemployment before and will have it again in the next 2 years. with or without the big 3. But if the people of the US are to help them again, then I would want to see the Unions give some too. $23 an hour for a guy who pushes a button once every minute. No way or $18 an hour to push a broom. Time to rethink some of these wages.

SFC

US Army

Retired

As a whole, the country won't fare that badly, I don't believe. It will be certain areas that will suffer. You will see the factory towns plunge into a depression, but the country, on the whole, will be alright.

You've got to remember that even foreign automakers are making cars here in the US- and they're doing well. Toyota recently opened up a nice plant down in Mississippi and they're not closing their doors or asking for a handout. If the US auto mfctrs could operate more EFFICIENTLY, they would find more money in their pockets.

Answer is simple. The end result, at least 3 million more jobs lost. However, that said, maybe it will finally break the unions and force the Big 3 to start managing their businesses more efficiently and producing cars that are needed instead of cars that are "wanted" based on Madison Avenue's ideas of consumerism.

I would rather see them fail and allow new car manufacturers develop in their place. This could and should pave the way for the mass manufacturing and marketing of electric cars which would be great for the economy, the environment and completely free us from any need for foreign oil.

I feel bad that people could be losing jobs, yet i still dont think its right to pump 25 billion (of taxpayer dollars) into companies that have set themselves up for failure!!

We are not baliing out these companies we are bailing out the UNIONS! and they have destroyed so much, they dont deserve a bailout. why should a semi skilled worker make 75 bux an hour?? (more than someone who has a masters degree!!)

We as a country very well might see another Great Depression, plain and simple. By letting these companies fail, it is loss of wages to MILLIONS, loss of TAXES to the Cities/States/Federal Governments. What happens should another major war crop up in these horrible times may I ask. It was these plants that were retooled to make the tanks/planes/ships necessary for our Military. Furthermore, WITHOUT A STONG MANUFACTURING base in this Country, we will NEVER get out of this mess, we will not be able to survive as a democratic republic. Those who do not want a BRIDGE LOAN, and that is what they are asking for a LOAN..........are shooting yourself in the foot along with this Nation's future.

I think its huge, and this is not just because I live in Detroit and would see a lot of trouble. Just look at the Great Depression; the industry that was needed (and there-in the employment) to fuel WWII brought us out of that period. Why couldn't the opposite happen with the big 3 collapsing? I think its definitely vital to enforce progressive standards upon receiving this money, and I don't see the huge hang-up of giving 25 billion, or was it trillion, out of the bail-out for the investment firms and handing it over to a huge industry. We would be using it for the banks anyways... Perhaps we should look at how much money we're giving AIG with their tens of thousands of dollars in vacations post-bail out and reassess how our money would be best spent.

I say let them fail and new auto companies will eventually develop that will make cars that actually cater to what we Americans really want. So what if we have to buy foreign cars for awhile? New American car companies will take their place...trust me.