Wednesday, December 31, 2014
After Final Tally, was the Automotive Bailout Worth it?
Politically speaking, the great automotive bailout will be debated for many years. Some will call it a necessary move to save an industry that drives the American economic engine. Others will say it was so flawed and ineffective that the end results do not justify the expense. Everybody is right. Everybody is wrong.
None of it really matters in the whole scheme of things.
Now that the tally has been published and it officially cost America $9.3 billion to save General Motors and Chrysler, we can try to learn lessons about how it was handled, what can be improved if the need for future bailouts are needed, and how to prevent the need in the first place. At the end of the day, it doesn't matter if it was effective, worth it, or even necessary. It happened and now the automotive industry is thriving.
“We’ve now repaid taxpayers every dime and more of what my administration committed, and the American auto industry is on track for its strongest year since 2005,” President Obama said at a press conference on Monday.
Let's take it for what it is: done. Time to move on and focus on rebuilding the economy after the collapse The politics of it all is only relevant to the media and those with agendas.