A Pithy Argument Against an Auto Industry Bailout

It is starting to feel like a real popular backlash against bailing out the Big Three. Here's the clearest argument I've heard yet on why it is wrong from Daniel J. Mitchell

Perhaps most important, though, is that a bailout would be bad for the long-term health of the American auto industry. It would discriminate against the 113,000 Americans who have highly-coveted jobs building cars for Nissan, BMW and other auto companies that happen to be headquartered in other nations.

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Bailouts are a particularly bizarre form of redistribution, however, because the corporate bureaucrats at the Big Three are among the very richest Americans. The UAW bosses make extravagant salaries, as well, and even regular union workers make an average of approximately $70 per hour, far higher than the average American.

Unfortunately, you still know its going to happen. Now the Canadian Government is joining the chorus and considering a package.