This theme exists within the car companies themselves. They've given so many guaranteed benefits to retirees that they can't invest in their future, hence they're dying. We shouldn't do the same. These companies are weak and dying, and for us to spend billions or trillions propping them up isn't doing them, or us, any favors.

That 3 million number is also dubious, for it assumes that all three will fail and none can recover from a bankruptcy. I don't find that realistic.

Now, if there are regulations or laws or tax policies that drive businesses out of the country (and that certainly is the case), then that is something else indeed. But directly funding failing businesses isn't smart, it's socialism.

But in fact, we need to rethink the value of jobs and self-reliance in manufacturing. We might just need our own textile industry, shoe makers, electronic companies and yes, automakers. Opinionated as I always am, though, I don't know whether bailing out automakers is a good idea or will even work. But if we do, I'd like to see some pretty heavy controls on executive compensation and management arrogance. The days of using marketing muscle to cram gas guzzlers down our throats better be over. We NEED a super efficient fleet and serious R&D toward non petroleum options.

I am not an economist, but if I recall my history the hallmarks of the Great Depression were high unemployment coupled with deflation. More of one lead to more of the other.