GOP Senators Strongly Oppose Auto Bailout

Many top GOP senators feel so strongly about not helping US automakers that they are going so far as to call them “dinosaurs” that should disappear altogether. At odds with Democrats who would like to give GM some of the $700 billion already approved to rescue banks, they feel that the Detroit automakers deserve to fail for not being competitive or innovative. That sentiment is out of touch and misinformed.

“Companies fail everyday and others take their place..” says senator Richard Shelby, R-AL.

Companies may fail everyday, but not many companies can take down the entire economy with it. Also, at risk is not a single company, but an entire industry that is responsible for 3 million jobs and hundreds of billions in economic activity. Not every company has a direct and measurable impact on GDP.

“They’re not building the right products…They don’t innovate. They’re a dinosaur in a sense.” says Shelby.

GM actually built and distributed an electric car in the 90s, but ultimately the technology was not up to the task. The Chevy Volt, an all electric mid-size sedan that travels 40 miles on pure electricity, is scheduled to hit the market in 2010. Currently, GM manufactures more hybrid cars than the Japanese.