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The Republicans voted no on the Big 3 bailout...essentially their reasoning is as follows...
"They insisted that the UAW agree to cutting workers wages and benefits immediately to match the average hourly compensation paid by non-union foreign auto companies based in the South. This would entail cuts in pay by about 50% within the next months. For Republicans, the problem wasn't the worst economic downturn since the Great Depression. It wasn't wrong-headed management that was skewered when soaring gas prices wiped out their SUV cash cows. It wasn't the Wall Street dominated trade policies that sacrificed US manufacturing behind a high dollar that made it profitable to move plants and production abroad and aided foreign competitors. It wasn't the burdens of health care costs that make US manufacturers less competitive." Huffington Post
The alternative is give the car companies the money. Their costs remain unsustainably high and the plants have cut back production thus fewer cars to sell. The UAW has ridden the wages + benefits so high as to bankrupt the company. So the UAW now expects the US taxpayer to pay the unsustainable wages and benefits....we owe it to them. When that money runs out...come back for more....Bull****...sink or swim that is capitalism.
"They insisted that the UAW agree to cutting workers wages and benefits immediately to match the average hourly compensation paid by non-union foreign auto companies based in the South. This would entail cuts in pay by about 50% within the next months. For Republicans, the problem wasn't the worst economic downturn since the Great Depression. It wasn't wrong-headed management that was skewered when soaring gas prices wiped out their SUV cash cows. It wasn't the Wall Street dominated trade policies that sacrificed US manufacturing behind a high dollar that made it profitable to move plants and production abroad and aided foreign competitors. It wasn't the burdens of health care costs that make US manufacturers less competitive." Huffington Post
The alternative is give the car companies the money. Their costs remain unsustainably high and the plants have cut back production thus fewer cars to sell. The UAW has ridden the wages + benefits so high as to bankrupt the company. So the UAW now expects the US taxpayer to pay the unsustainable wages and benefits....we owe it to them. When that money runs out...come back for more....Bull****...sink or swim that is capitalism.