Until recently the biggest problem GM had being competative was the retirement pensions and the union.<quoted text>
I believe those are the percentages China and Japan have of the FOREIGN holdings rather than of the total debt. The total held by ALL foreign countries was $3072.2 billion but the total federal debt is slightly above $11,000 billion (and that fails to count the money “borrowed” from those now paying into Social Security and Medicare).
Little Luxembourg is above both Taiwan and Korea.
Add taxed away to “given or driven.” We’ve borrowed from some foreign countries for several decades but NEVER on the recent scale!
Do you believe ANY amount of money government can provide would make GM or Chrysler competitive with the Asian auto manufacturers?
If GM could have closed all the factories in the rust belt and moved to the South like the Germans and Japanese they could have built cars just a good and just as cheap.
Now I think that Obama and the libs having stuck their fangs in the car companies they will never let go.
Meaning that in the future product decisions will be made by radical environmentalists who basically hate the automobile to begin.
That is not encouraging for GM's long-term prospects.