The big question that has everyone waiting for an answer is: what will happen to the United States if the “Big Three” automakers, Ford, Chrysler and General Motors, are not bailed out by taxpayers AGAIN and end up laying off hundreds of thousands of people?
We know unemployment will go up. It has already been extended for an additional 13 weeks and will more than likely be extended again under the Obama administration. As I have stated before, unemployment is ALREADY 6.5 percent. BUT, those figures only include people who are collecting right now. It does not take into consideration people who have exhausted their benefits or are underemployed, i.e working for less money or less hours than their original jobs.
Leading labor department personnel have estimated that if the BIG THREE went under, nearly 2.3 million more people would be added to the unemployment figures which would jump from 6.5 to over 11 percent. And, don’t forget, these figures just count people who are receiving unemployment checks each week.
And, what happens to the Big Three retirees? Will they lose their pensions and health care.
You see, in Canada, Ford and GM going under would not have the impact it would have in the United States because as most of you know, Canada has free health care. It is nice in a way, but COSTLY.
Quebec’s sales tax is 16 percent. My son went to buy a roll of aluminum foil and it cost $10. That little brick of Cracker Barrel cheese was OVER $8.
Do you want to pay high sales tax for free health care and LOW and I mean LOW cost higher education? How LOW?
Click here for “virtual tour” of Concordia University in Montreal
McGill University-Quebec Residents-$1,868 for 30 credits!!!
Here is an interesting article to ponder on the automakers:
I briefly wanted to touch on education once again. I know Connecticut has the ECS, ( Education Cost Sharing) formula for each city and town. Some say it isn’t fair, some say it is fine.
But in New Hampshire, they get most of their educational funding from property taxes. And what the state does is take more property tax monies from wealthier communities and distribute it to less fortunate areas of the state.
This has been a topic of discussion in New Hampshire, but I have not really heard too many complaining about the “redistribution” if you will. It is fine by me.
Speaking of education and New Hampshire, that state is thinking of allowing children to graduate high school at age 16 (grade 10), if they complete a battery of tests.
