Does U.S. auto industry regret opposing CAFE standards, universal healthcare?
Kos:
As Ford posts yet another crazy-ass quarterly loss ($8.7 billion), it makes one wonder how much better the US auto industry (and its unions) would be doing if they had let the government raise CAFE standards, huh? The government could've bailed them out of this mess.
And it makes one wonder how much better that industry would be doing if they hadn't so viciously opposed Bill and Hillary Clinton's 1993 health care initiative. In 2004, GM spent over $5 billion in health care costs — a number that is likely significantly larger today. That's billions that would be off its balance sheet had they not opposed universal healthcare.
Lots of industries may shoot themselves in the foot, but none more so than the auto industry. It truly deserves the comeuppance it is getting (and it has gotten a healthy assist from its unions). The people who don't deserve it — of course — are its workers, who are getting screwed.




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