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Why We Shouldn't Bail Out GM

The bailout should be used to expand unemployment compensation instead of propping up a single, failing corporation.

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The Republicans are against a bailout for the usual doctrinaire reasons -- free market blah-blah, creeping (or galloping) socialism. Such meaningless abstractions aside, the reality is that a society pockmarked by large, losing, subsidized corporations is a society on the way to the poorhouse. By propping up GM and saving some jobs now, we will see many more lost just down the road.

Nicholas Von Hoffman is a columnist for the New York Observer and is the author, most recently, of "Hoax" (Nation Books, 2004).

 
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