Yesterday, Congress decided NOT to extend bailout money to the Big Three Automakers (Ford, GM, Chrysler). The Senate Republicans blocked it claiming that the "Problem" was UAW (United Auto Workers Union) and that the Average worker needed to take a PAY CUT.
Now, I don't recall anyone yelling for pay cuts of the Financial Services Industry, yet they received a $700 BILLION bailout and all the Automakers wanted was $34 Billion. That is about 5% of what Wall St. got.
Yet where were the cries for "Pay Cuts" amongst that MUCH BIGGER bailout???
And while we are on the subject, since the Government is running a HUGE Deficit, why don't the Senators and Congressman take a Pay Cut. Seeing how they make about $80/hr as compared to the $29/hr of the average Auto worker.
What a bunch of Rich Elitist Hypocrites!
This Automaker bailout will save approximately 3 MILLION JOBS at about an average cost of $5000 per worker to the taxpayers. That's it, just $5000 per worker.
But, if the Big 3 go into bankruptcy and these workers become unemployed, we the taxpayers will be paying upwards of $20,000 per worker in unemployment benefits.
So we will save the taxpayers, and save these jobs with a mere $34 billion, which is just 5% of the Wall St. bailout.
Someone go down and grab Bob Corker and yell at him. I mean this is why people are voting democrat. The Republicans are killing their image by being against the hard-working, average Laborer.
The Republicans need to be the party FOR LABOR and FOR the WORKER. But they are currently not, and the average worker knows this.
Shame on the Republicans.
Jimbo
1 comment:
One problem with the auto industry bailout is that it is only a temporary fix. If the auto companies don't make some significant changes (and maybe even if they do), they will probably be back for more early next year.
I do, however, like the idea of pay cuts for Congress. How about some layoffs too?
Larry
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