Monday, December 8, 2008
Should Congress bail out the Big Three automakers?
I agree with Mark J. Perry who says that the Big Three do not deserve a bailout. "A taxpayer bailout would only reward irresponsible behavior," he said. The United Auto Workers (UAW) gained high worker compensations in the 1970's, and now the companies can't afford to pay the pensions and health care of their workers. Poor planning and management have caused their major problems, and it is unfair that these businesses should be rehabilitated with taxpayers' money while other businesses face bankruptcy. Although I do think that unions have a very important role in protecting workers' rights, the UAW may have overstepped its boundaries and caused a lot of problems. The Big Three shouldn't be bailed out because that gives powerful companies the approval to be irresponsible because they know they can just be bailed out if they get in too deep.