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Moving toward an Auto Bailout Deadline
The Census Bureau reports that more Americans have three cars than none at all. Americans' storied love affair with the automobile is well known, but its ardor for the "big three" domestic manufacturers has cooled. Martin Feldstein, a member of AEI's Council of Academic Advisers, argues that the appropriate solution for the big three automakers is to file for bankruptcy. He argues that the automakers will "burn through" the proposed $25 billion rescue package from Washington and "soon be back for more." Kevin A. Hassett, also deeply skeptical of a bailout, argues that bankruptcy is not a death sentence, but rather "intensive care": "The sooner GM reorganizes and becomes more efficient, the sooner our economy will begin heading in the right direction." Robert W. Hahn and Peter Passell believe some form of help for the domestic auto industry is all but inevitable but that a bailout would be ill-advised. They suggest provocatively that we should stimulate auto buyers by offering "eye-popping" rebates for a limited time to help put the auto companies on the right road.
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Latest Books
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Rethinking Federal Housing Policy
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| How to Make Housing Plentiful and Affordable |
| By Edward L. Glaeser, Joseph Gyourko |
| Posted: Tuesday, November 25, 2008 |
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Prices, Poverty, and Inequality
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| Why Americans Are Better Off Than You Think |
| By Christian Broda, David E. Weinstein |
| Posted: Friday, November 7, 2008 |
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The Poverty of "The Poverty Rate"
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| Measure and Mismeasure of Want in Modern America |
| By Nicholas Eberstadt |
| Posted: Monday, October 6, 2008 |
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| [More Books] |
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The American
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 The American magazine brings subscribers fresh and insightful coverage of business, economics, culture, and more. In the current issue, which is available on newsstands, Thomas J. Healey and Matthew A. Scogin talk to some academic sleuths who predicted the financial crisis, Joel Kotkin examines the decline of California, Leon Aron explains how Vladimir Putin built Russia's corporatist state, and more. The American also publishes exclusive web-only content -- and articles from the magazine -- at www.american.com. |
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On the Issues
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In the most recent installment of On the Issues, AEI scholars examine the ways that the U.S. auto industry can survive the current economic crisis without a government bailout.
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