The economy is in the toilet. Actually, it is swirling around the drain, and we ain't talking about a stingy 1.0 gpf, either. We are talking the whole enchilada!
Jobs are disappearing ( over 500,000 alone, in November, and 1.9 million so far this year), faster than CEO's can ask for bailout money. Speaking of which, it is hard to keep track of all the corporations standing in line with their hands out. Some pundits are now speculating that a $1 trillion rescue package is not too far fetched.
The big question on the table right now, is should we or shouldn't we bail out automakers? On the face of it, I would vote a big fat NO! They have made their bed, and they should by all rights, have to sleep in it.
However, upon deeper reflection, the question is very complex, and really more difficult to answer. The simple reality of it is, that it's one thing to see 60 to 80 thousand auto workers lose their jobs. It is another thing entirely, however, when if you factor in the possible failure of all of the ancillary business, which depend on automakers and those employees losing their jobs. If the total of sum all of those folks are out of work, and not spending money, how many other business risk failure, in what would become a self sustaining, downward spiral, until, in the end, we have total collapse!
We've seen nothing before like this, in my generation. Not since my parents were children has the economic outlook been so bleak.......It is truly scary, and the path out of this mess is anything but simple.
God help President elect Obama, and Congress to determine the right path....... All of us have a huge stake in it's success!
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