In the fall of 2008, General Motors, Ford and Chrysler-known for decades as the Big Three encountered a very serious automotive industry crisis that they haven’t met before. This unprecedented crisis made these three leading companies in automotive industry step at the edge of bankruptcy. Facing this critical problem, automotive companies can not deal with this severe difficult situation all by themselves then they turn to the United States Federal Government for help not only once but several times. According to a report published by Center for Automotive Research in the United States, the United States Federal Government successfully avoids a lose of 28.6 billion dollars by offering assistance to automotive manufacturers in this crisis. Even though this amount of money can not be comparable with the tremendous amount of money the United States Federal Government loaned to the automotive industries, it does demonstrate that the government has done something really helpful and successful in term of the outcome of this action and the federal government’s functions in some extent. Therefore, as far as I am concerned, the United States Federal Government should have assisted the automotive manufacturers from going bankrupt. Then I will illustrate my reasons to support my opinion in the following statement.
First of all, we take actions in order to achieve some specific goals. In term of achieving goals, the United States Federal Government actually does a good job in this action by assisting the automotive manufacturers with a large amount of money which comes from taxpayers. The main purpose for this government’s action is to save jobs. According to the CNN news, we can clearly see that about 113,000 of 400,000 jobs which lost in the year leading up to the Chrysler and General Motors’ bankruptcies have been recovered. Let’s imagine that 113,000 people will lose jobs and live with no source of income if the United States Federal Government does not assist these...
Please join StudyMode to read the full document