Bail Money

The United States is known for bailing out others...we are the flotation device for many third world and poor countries around the world. I applaud that, and I think it is necessary, as one of the most powerful nations in the world, that we help out those amidst us who are in need of help.
That said...how does the saying go...
God helps those who help themselves?

Well, the US is in one of the largest and most widespread economic crises since the Great Depression. We are in a serious deficit, we owe billions of dollars to China and other countries, and we continue to see unemployment rates rise.
I live in the Detroit area, so I can tell you, this is one of the hardest hit areas, since the automobile industry has been failing for years and is now just weeks from the possible fold of Chrysler and General Motors. Both companies have stated that they are just weeks from running out of money to perform their essential functions.
These companies, as you may know, have requested a bailout from the US government, similar to the first bailout that helped AIG and other insurance and financial companies from going bankrupt and closing their doors.

On Friday, the bailout bill failed in the Senate. That same day, President George Bush announced that he might use tax money set aside to help financial companies to bail out the auto companies. As it stand, General Motors needs about 10 million and Chrysler about 4 million dollars.

Many people have been split on this idea, except for people who live in auto based areas,mainly the Michigan area. The bailout would help many people retain their jobs and help put a few people back to work. In addition, both companies have failed to keep up with the ever changing auto industry in terms of more effecient and smaller vehicles, steadily producing gas guzzling SUVs. The failure of the bailout could make them change, quickly. Over time, the auto industry, once an industry started and dominated by America, has been taken over by foreign companies, with their flex fuel and gas efficient smaller cars. However, failure to help these companies could lead to catastropic events in areas that rely on this industry...such as higher foreclosure rates, increased unemployment rates, and rise of the poverty level!

What is your take?
Let me know...share...get involved...and let's come up with some viable solutions!