House OKs bailout for auto industry… but this is only the beginning

http://www.chron.com/disp/story.mpl/business/6158481.html

WASHINGTON — The House on Wednesday night approved an emergency plan to prevent the collapse of the nation’s domestic automobile industry, but the measure faces serious opposition in the Senate, where Republicans are revolting against a White House-brokered deal to speed $14 billion to cash-starved General Motors and Chrysler.

Who really believes that $14 billion will really save GM and Chrysler?  It’s going to be billions more in a years time.  Everyone is talking about job cuts and how to streamline the companies, but doesn’t that reduce the benefits of bailing them out?

Really… why does everyone want to save the big 3 auto companies?  I believe it is to prevent massive job losses.  So to pump billions into a black hole and only save the outer facade of the company seems counter-intuitive.

Unless the government has a plan on how to prevent massive job losses (which I think is impossible) this is a mistake.  Hopefully the senate will show a bit more sense.