The amount that would ultimately be loaned to the Big 3 is unclear, but most observers believe that when all is said and done, it will be much, much more than the $34 billion that the Big 3 have requested. Let’s assume $100 billion. As a pure thought exercise, how many jobs could we create with an extra $100 billion of venture capital? How much more sustainable would these be than jobs in companies that need to come to Washington to beg for capital?
We’re not supposed to ask those questions. These threats of financial armageddon if we don’t bail out the UAW are just scare tactics. It will be very bad in the short run for some locales (including my home town of Flint, and my family there), but the nation would survive, and if we can break out of this “too big to fail” mentality, much the better for it.