President-Elect Obama has joined with congressional Democrats in supporting a government-sponsored bailout of the Big 3 automakers. A case could theoretically be made, that the short-term effect of the three of them going under, would be so devastating as to justify such action.
However, all this only makes sense if the government CAN prop up the Big 3. What if the Big 3 are in such bad shape, that the government can only postpone the inevitable, and only at great cost?
The numbers speak for themselves.
UPDATE: Another reason to not bail these folks out.
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