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Originally Posted by TruckMan
They have slave and child labor in China and Africa, how is the US supposed to compete with that? Should we also allow slave and child labor in the US? Does that make it right? The Soviets had government funded everything, and that worked out so great for them.
If we have problems competing with industries from other countries because of unfair practices, we should address that via tariffs, not by duplicating their socialist programs in our country. And the auto industry is no more special than any other industry, do it for them, and you have to do it for every industry.
That being said, I'm much less against loaning companies money at cheap rates than just giving them the money or giving people tax incentives to buy vehicles. As long as the companies don't borrow the money and then go bankrupt. If we keep giving people/companies free money, there is no incentive to be responsible or do better the next time around.
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I agree with what you have said, and I generally believe in free markets. However, like Lamronh said, some industries are critical and are too important to fail. I think automotive is one.
I think the gov't needs to tread carefully, however. If companies/industries believe that they will continually get bailed out in their time of trouble, this will undermine the entire system.