From the wires today comes this excerpt:
House Speaker Nancy Pelosi said she wants “immediate action” to give automakers additional aid as shares of General Motors Corp. hit their lowest level since 1943. The failure of “one or more of the major American automobile manufacturers” would have a “devastating impact on our economy”…
Why would this be devastating?
What’s going to be devastating is if we keep people with extinct skills in government subsidized jobs to produce a product that the market doesn’t want. That is what will be devastating.