Consider the following alternatives for the long term economic future of the US:
1) give $50 bil to GM, Ford, Chrysler
2) let venture capitalists keep $50 bil more via lower taxes to invest in whatever they think will make the most money
Who on Freerepublic will really argue that in the long term the US will get more jobs, growth and wealth creation from option 1) ?
Someone will buy the assets from the Big 3 and start a new car company, that actually makes good cars. Creative Destruction is a beautiful thing.