McCain: No Detroit Bailout

There's been a lot of speculation as to what the presidential change to happen in late 2008 will mean to the US auto situation, being that a significant portion of the economy and unemployment hinges on the success of the big three in Detroit. As sales have lagged and every day auto workers fear for their jobs, the question has been raised as to what platform the candidates stand on if elected and what they will do with the status quo.

If John McCain is elected, it may just be nothing that is done. He noted in a town meeting that he doesn't support a government bailout of the auto industry, but that he does support free trade, and that he believes that if that is opened up significantly that the economy and thus the carmaking world would benefit. McCain noted that he realizes that not all free trade agreements as they are across the board aren't all "fair" in nature, and that would need to be looked into as well as an initiative.

This is a hard situation overall--I mean, one could argue that the big three have done this to themselves and that they did not have the forethought or savvy as Japanese automakers did, but then again, the American public did nothing to sway that away, as we continued to gobble up gas and larger than life SUVs at a breathtaking pace. On the other hand, with so many lives affected, the government has also done bailouts on the credit and mortgage industries, so why wouldn't the automotive industry be considered in this equation as well?

Keep tuned, because I am sure more details and more pressure will continue to mount on the presidential campaign for this issue.

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McCain: No Detroit Bailout

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