Obama supporting 4 billion "aid" for Detroit Big Three

It's no secret that the Big Three are losing all kinds of money and there is no clear way of their being a turnaround of profit in the near future. With that in mind, in combination with an economy that just won't budge, one of the main platforms that has been raised for the presidential election is what the candidates will do about the automotive industry. If it is up to Barack Obama, he will support giving 4 billion dollars of aid to the Big Three in Detroit.

This isn't exactly a bailout as it seems, it will be given as low interest loans to the companies, but will give an immediate cash infusion to them, which would see research and development into fuel efficient vehicles boosted as well. Senator John McCain opposes this type of deal, stating that his plan of $300 million for advanced battery technology breakthroughs, as well as offering consumers $5,000 for purchasing fuel efficient vehicles, will equal the 4 billion package that Obama is offering up.

Regardless of who wins, these ideas, while big and bold, may not be the end all be all that many think should be occurring. While I know that Obama's plan is not necessarily a bailout, per se, it really doesn't address the long standing issues that surround why the automotive industry has turned the way it has. Once we get something going with that, perhaps we'll be able to see some positive results. Why be reactive when you should be proactive???

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