Backing New Auto Loans

President Obama is in a tough place. The auto makers need more money to support their companies as they move into the next generation of car production, and at the same time the American people don’t want to see any more money going out to help specific industries. The question is how to help both without alienating the other?

What many don’t understand is that the auto loans that the big car companies are asking for are really for the benefit of everyone. Right now we are woefully behind in the production of fuel efficient cars, and every other country is currently putting us to shame. The auto makers want the auto loans because they know that if they are given enough money and the chance, they can turn that sad fact around.

The auto makers are asking Obama to consider a $25 billion auto loan where they could make more fuel efficient cars as well as start producing advanced batteries and battery systems. Right now, almost all of the batteries that are made for hybrid cars are made in Japan and other countries in Asia. With this auto loan they could start to turn that around and give them a run for their money if not completely take it over.

The big three are moving forward with their plans to make electric vehicles and need the assistance of the government to bring the production back to the US, and hence bring back the jobs as well. This would also make more jobs available, making it a win-win for the auto makers and for the taxpayers.





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