2009 was a difficult year for the United States’ economy. It all seemed gray for my class: ’09. In fact my teacher used to say, “Class of 2009 will be standing in line.” In other words we will be standing in the line of unemployment like many did in 1929. Luckily the government is taking action so we don’t have to go through the same fate our grand-grand fathers did. Unfortunately the government doesn’t always make the right decisions: For example, giving millions of tax dollars to General Motors.
The taxpayers’ money saved a private cooperation, and now about 60 percent of GM belongs to the United States government. Should the government be interfering with the economy so much? When the national bank was created there was disagreement whether it was constitutional or not. The government should do whatever is necessary to protect it citizen but, in this case I believe giving GM so much money was not essential. The money being use for GM could have been used for other things our society needs, for example, money for Social Security, Medicare, and welfare. The government could have also used the money to create new job. With new jobs the unemployment rate will be less and the country can grow faster.
The phrase “the rich get richer and the poor get poorer” come to my mind when I think of how much money was given to GM. In the past General Motors closed factories in the city where the cooperation was born to open new factories in Mexico, where it gained more profit. At that time the cooperation was not losing profit, but by opening factories in Mexico profit rose because of cheap labor. As a result, more than half of the population of Flint, Michigan lost their jobs. People were force to evacuate their homes and others were obligated to take extreme measures in order to survive. Other people decided to leave the city because it was impossible to survive in the city were generation after generation have work in a GM factory.
About forty decades later we are giving our tax money to the same cooperation that took our grandfathers’ jobs.
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I appreciate your opinion about government not giving tax payers money to General Motors. But,I do not agree with it because I think Government did fantastic job by giving credit to General Motors.We all know that the General Motor was escalating downward towards bancruptcy and it was Government who protected the General Motors and saved the loads job.Also I do not agree with your opinion that Government should not interfare in the economy because Government is the main body who looks after economic and social condition of the country.After all it's responsibility of Government to solve the economic problem of the country by whatever way it can.I also believe that sometimes Government does not make right decisions appropriate for entire range of people.But,in case of giving taxpayers money to General Motor, it was the right decision.
ReplyDeleteI think you could have used a bit more evidences and logics to make your arguments strong .Also you could have taken help of relevant data and information.