economists are saying. HEre is some from a study that was referred to on the Huffington Post:
http://www.huffingtonpost.com/2008/12/10/big-3-failure-would-cost-_n_150009.html--------------------------------------------------------------------------------------------------------------------------------
Overall, that lost employment would cost government at all levels $50 billion next year and $108 billion over the next three years, the center estimates, with Washington bearing most of that cost. Almost a quarter of the money would be for unemployment, welfare, health care and other costs government would have to carry, while the rest would come from lost collections of income taxes and payroll taxes that support Social Security.
In a more severe scenario in which the Big Three halted all U.S. operations completely, the three-year cost to taxpayers would be $156 billion in lost tax revenue and higher spending, the center says.
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That's just three fucking years. It will take a lot longer than three years to dig ourselves out of fucking DEPRESSION. I expect Reid to realize how fucking critical this situation is and start fighting for this country's well being. If he isn't up to it, the Dems need to get somebody who IS.
The Anderson Economic Group said the losses to he country if two of the Detroit 3 failed would be $66 Billion - in just the first two years Report: Letting Big Three go bankrupt will cost far more than bridge loan.
Who is the Anderson Economic Group? http://blog.mlive.com/capitolchronicles/2008/12/report_letting_big_three_go_ba.html">from the Capitol Chronicles:
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"This comes from a report issued by the Anderson Economic Group headed by Patrick Anderson. Free-market types should listen up because the erudite Anderson is hardly some way-out lefty - he's one of their own. Anderson is not a big fan of burdensome regulation and taxes. He is one of Michigan's top economists. And his research clearly shows that taxpayers would get a better deal if the Big Three get their $15 billion bridge loan."
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He can continue by talking about the tax breaks ALabama and other southern states are giving foreign auto makers to set up in their states and ask whether we need to keep giving Alabama and other states those liberal continuous bail-outs with Federal low-cost loans, insurance and grants ($31 Billion to ALabama in 2003 and $49 Billion to South Carolina in 2006) - which have gone on for decades!
IF he counts heads and gives up before he gets started, as you just did, he should give up his job to someone who cares enough to fight for what is clearly right.
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