Should The U.S. Auto Industry Be Rescued?The auto industry is ailing. Experts are divided about the next step to take. Should the big three --Ford Motor Co., General Motors and Chrysler — be bailed out by the U.S. government?
The Detroit auto industry is in deep trouble. Sales are plummeting and General Motors is looking for taxpayer money to finance a merger with Chrysler. But should the government help a declining industry that has created some of its own problems? Experts debated whether Washington should save GM.
Dan Mitchell, senior fellow at the Cato Institute and a free-market economist who argues that economic forces not special interest deal-making (subsidies and handouts) should determine whether industries succeed or fail.
David Cole, chairman of the Center for Automotive Research in Ann Arbor, Mich., who is in favor of government intervention.
Maryann Keller, independent consultant and author of Rude Awakening: The Rise, Fall and Struggle for Recovery at General Motors.