Remember all the debating on whether or not to bailout the auto industry? Well apparently they're almost done deciding what money will be given for the short-term. Being a slightly ignorant citizen, I thought the federal government wasn't going to help them because they should have a lot of money but have been wasting it. Besides, it's it part of the free market to let failing companies die; survival of the fittest and stuff like that.
Yet 3 of the big car companies are looking for money since the economy hasn't been looking too good. GM and Chrysler even said that they "may go under if the government refuses to help". I'm no connoisseur of cars, so the possibility of two less companies showing glamorous car ads every 5 minutes don't seem to bad (if you don't consider the people who would be losing jobs and the tv networks losing the ad money).
And of course one has to ask, "Where is this bail money going to come from?" Why, from some other program originally meant to help car fuel efficiency. How is giving bail money to supposedly failing car companies going to help fuel efficiency? There is some chuck of information I must be missing, because I can't see any correlation between saving the company and the proper investment in fuel efficiency.
True the short term relief and then long term work sounds like a good plan, similar to how the New Deal dealt with the Great Depression, but the way this has been colored to me is that it might not make it past the President's desk because this short term solution is going to begin yet another industry reconstruction with another federal agency or job to keep an eye on it.
Should it all actually work out as planned, Obama will be the ones drawing up the long-er term plans. It'll be interesting if that'll get any attention with the rest of the economy to take care of.
EDIT:
I just saw this. So much for coming close to bailing out the car companies. Guess who’s resisting? The Republican minority.



