What are some of the other broader economic impacts if an automaker goes out of business?
Nearly 2 million Americans get their health insurance directly from one of the Big Three automakers. Most of them would lose that coverage if their company goes out of business. A failure of one of the Big Three could also cause a string of bankruptcies among suppliers. And beyond the job losses at the automakers, dealerships and suppliers, media companies that generate a lot of revenue from auto advertising, as well as retailers in towns where plants are located, could also have to cut many jobs. The Center for Automotive Research, a Michigan think tank that supports the bailout, estimates that between 1.4 million and 1.7 million jobs indirectly tied to the Big Three would be lost in the first year following widespread auto failures.
