Monday, May 23, 2011

The private auto? Don't need it.

Streetsblog Capitol Hill » Five Media Myths That Perpetuate Car Culture: "The economy depends on the auto industry. The popular, business, and political media alike echo the fallacy that a healthy US economy depends on a healthy auto industry. This chorus helped justify the 2009 bailouts of GM and Chrysler. But the auto industry knows that the dependency is reversed: it needs economic growth, tax breaks and subsidies, and vibrant credit markets to sell cars. A nation more reliant on transit and active transportation would be one in which households had lower debt and more discretionary income to spend on housing, leisure, and other products, enriching a wide swath of industries. It would also be a nation, in the next downturn, less hostage to how a single industry’s fate might affect entire communities and supply chains."

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