McCain: Automobile Industry Must be Saved
During an interview with ABC’s “Good Morning America,” Senator John McCain said that as president he would do everything in his power to safe the American automobile industry.
American car manufacturers have struggled for decades, despite being receiving several bailouts from the federal government.
McCain did not say whether he would approve more bailouts, however. Instead, he would like the government to act on bills that were already passed by Congress and approved by the president. One such bill would loan $25 billion to auto companies, in order to make their cars more fuel-efficent.
“We have delayed getting them that money,” McCain said. “I would do whatever I think needs to be done to help out the auto industry. We need to keep this industry alive,” he added.
The American automobile industry has suffered for decades, and continues to suffer today. The U.S. federal government has bailed car manufacturers out time and again, but almost often to no avail.
The auto industry saw its sales go down 27 percent in September of this year, compared to the same month last year, adding to the already existing financial issues.
At the same time, many people argue that one major reason for the industry’s problems are fuel-efficiency bills passed by U.S. Congress. These bills make production more costly, thereby driving up prices and, thus, driving down sales.
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Yes, keeping the auto industry alive is very important. Without such industry, we can’t barely imagine how will be our economical status.