It is curious that in a real sense one aspect of the problem with the American auto industry is a good thing for its workers and retirees and something all Americans should enjoy.
The Causes of the Auto Crisis By Kevin Zeese
“Every business small and large has struggled with paying the health insurance costs of their employees. It has held back hiring and holds back wages. A mega-corporation like General Motors sees those problems amplified. It would not be unfair to describe General Motors as a health insurance provider who happens to make cars. GM spends $5 billion annually on health care for 1.2 million people – only 150,000 of whom work for the company. GM, Ford and Chrysler have a combined unfunded retiree health care obligation of more than $90 billion. Health care adds $1,500 to the cost of each vehicle.”
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PS BUY AMERICAN
