I agree with Patrick and with Duncan Hunter that national security demands that we have our own heavy truck/auto, heavy shipbuilding, heavy aircraft, and heavy military industries.
It’s insanity to farm those businesses out of America.
Would I give 25 billion to GM to keep it afloat given that I’ve spent 5 decades putting burdens on it that have participated in making it unproductive?
Actually, I’d do better to get rid of the unreasonable burdens and revoked any legislation that makes them uncompetitive. That’d be worth far more than 25 billion bucks.
Assuming the USA gets in a shooting war, what can the auto makers contribute toward it? Tanks? Tanks are obsolete. Aircraft? How are they tooled to produce F-35's?
Success in warfare these days does not depend on heavy armor - it depends upon acquisition of information and precise and stealthy delivery of destructive power. It depends upon microprocessors and carbon fiber, not heavy industry.
This is why entry into the present Iraq war did nothing for the market value, i.e. stock price, for our heavy industries like the big 3. The national security argument is a false one. Not according to me - according to the market, which is much smarter that any one of us.