We can expect, then, to lose most of the three million jobs related to the auto industry if the Big 2 1/2 go under. To put this in perspective, in the last year the US has lost 2.7 million jobs. This would be more than the job losses for an entire (lousy) year. The US lost half a million jobs last month, and almost every economic forecaster expects the US to lose even more jobs in January, when retailers go fish-belly up due to an abysmal Christmas retail season.And no one give me any kind of crap Republican spin. The fact is that
A) Current GM union employees earn only $4 more an hour than Toyota factory owners in Alabama - and that's with increased expenses in Detroit and the fact that their employee base is older.
B) The fringe-right $78 whacko spin number only exists if you take into account all of GM's retired employees and ignore the fact that Toyota and Honda's American plants haven't existed long enough to have a bulk of retirees. Let me reiterate that: the Big 3's increased costs are largely due to the fact that they've existed longer and thus have retirees.
C) There were almost no strings attached to the $700 billion bank bailout, or an of the other $100s of billions we've given to banks and AIG. The GM/Ford/Chrysler bailout, on the other hand, saw the Democrats give into almost every Bush admin demand to the point where part of me would be glad this thing went down in flames if not for the fact that it likely means a 2nd Great Depression should these companies fail.
The Democrats shouldn't pass a single Republican-favored bill until the Big 3 are bailed out. Our entire freaking economy is at stake; this is no time for us to be playing games. If the Republicans think so, then we must inflict upon them great pain.