The proposed bailout of GM, Ford, and Chrysler overlooks an important fact. The US has one of the most vibrant, dynamic, and efficient automobile industries in the world. It produces several million cars, trucks, and SUVs per year, employing (in 2006) 402,800 Americans at an average salary of $63,358. That's vehicle assembly alone; the rest of the supply chain employs even more people and generates more income. It's an industry to be proud of. Its products are among the best in the world.
Their names are Toyota, Honda, Nissan, BMW, Mercedes, Hyundai, Mazda, Mitsubishi, and Subaru.
(Hat tip: Jesse Walker. The Vapours attended my English high school. They were the coolest thing for miles.)
