At least in those days, before the socialists took over, we didn't have to spend money to provide social security handouts to old people. Let them sell apples!
It can be argued that saving GM and Chrysler was a brilliant move that not only preserved a key segment of our manufacturing sector but also created restructured companies that will benefit millions of shareholders, employees and automobile buyers. In particular, had the companies failed, taxpayers would have picked up billions in pension obligations.
But it cannot be said that GM and Chrysler are self-reliant. Only Ford has been that.
-- Written by Ted Reed in Charlotte, N.C.>To contact the writer of this article, click here: