Look...in order to remain competitive, GM must make and sell cars in China. This is a fact. China charges a very large
import tax on vehicles.
I do vehemently disagree with the additional fact that GM
will make cars in China to sell in the United States.
What do you propose? We prevent GM from being competitive and they fail again? (All the major car companies have plants in China). We impose import tariffs? We pay China-like wages to American workers, further decimating the middle class?
I realize y'all think we should have, as Willard Romney wanted, "let Detroit fail". Well, we didn't. We helped out an American business and it was successful. GM, instead of failing and going out of business, (because, as you will recall, there was no private money to be had thanks to George Bush's recession so they would no longer be around...gone. As American as Apple pie wiped out and those
jobs gone) they have rebounded and are the
number one selling automobile company in the world.
The auto industry is one of the things driving the American economy and we, the American people, helped make that happen by a private/public partnership.
Well, now the partnership is over and GM gets to play with all the other big dogs. They've
paid back their loan, with interest.
That does still leave us, the American taxpayer, with a large share of GM stock. Wouldn't you like to make money on that stock that the government owns?
