Chrysler + Fiat = Bankruptcy

[Jeff In Milwaukee]

Until we reform health care in this county, the auto industry is toast. There's a reason why the auto industry is on the Endangered Species List only in the United States and not anywhere else on the globe, and that's because of the insane costs of providing health care to current employees and those in retirement. Are the unions to blame? They've got unions in Canada and Germany and Italy. Are automakers in any of those countries on the verge of bankruptcy? Nope.

Health insurance companies are strangling the auto industry (and every other traditional manufacturer) and it will be the death of this economy unless somebody stands up to their money and their lobbyists and puts an end to it.

Bailout GM? Bailout Ford? Whatever. We're just throwing good money after bad until we fix the problem.

Harumph!

[msongs]

1. let';s cancel all benefits for congresspersons as a first step nt

[MercutioATC]

2. How about just extending their benefits to everybody?

Expand FEHBP to cover everybody.

[Turbineguy]

3. The health insurance companies help

the banks.

[lithiumbomb]

4. auto industry worldwide is hurting

It's not just the United States. Honda lost 2.4 billion first quarter, which in any other year would be huge front page news and people would be wondering what on earth went wrong. Toyota lost money for the first time in history recently, IIRC. Plants are shut down or producing cars at a lower rate nearly everywhere except China.

I don't disagree with you about health care being a factor, but tough times for the auto industry are not exclusive to the United States.