Rescue Plan

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We’re one step closer to a rescue plan for the auto industry today. The House of Representatives just passed the bill 232 to 170. Sadly, the vote was very much along party lines. I don’t know whether the Republican objections are to the plan itself or just to its being presented by Democrats.

I’ll agree that the plan probably has some big holes in it. That’s to be expected of legislation being developed on such a short time-line. For example, it doesn’t appear that anyone has really thought out what the “Car Czar” will do, exactly. What if the management at either GM or Chrysler goes its own way over his/her objections. Can the czar shut them down? Must they be taken to court? I don’t hear any answers.

But what are we to do? We can’t let 3.3 million people be put on the unemployment lines all at once. We can’t even allow them to be put on the unemployment lines gradually.

Think of it. 3.3 million divided by twelve is 275,000 a month; divided by 52 it’s about 63,500. That’s 63,500 additional people each week, 63,500 on top of the people already losing their jobs. Do you really think our economy can absorb those people and put them to work? Never mind that the jobs they find won’t pay as much as the jobs they left. Never mind that they won’t have health insurance. Try to imagine how many McDonald’s and Wal-Marts will be needed to employ them.

Scary, isn’t it?

So what are the Republicans waiting for? It’s just as important that we have a rescue plan for the auto industry as it was for the banking industry. Let’s get crackin’.
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