1149: Bailing out the airlines is Washington routine. @veroderugy, @Mercatus
Image: Douglas DC-3 American AL with Shirley Temple Veronique de Rugy, @veroderugy, @Mercatus; Mercatus Center, in re: Continuing Washington tale: $1.9 trillion. Always with lobbyists. The airline industry: $42 billion to transportation and workers; also, more funding for US airlines and contractors. In the pandemic, people still worried about air travel (despite superb air filtering eqpt). American is threatening to lay off 30,00 employees – whom they don't need because of reduced passengers numbers; govt is offering ten times what’s actually needed. Bailouts are for shareholders and executives. This is the third bailout in less than a year. Were there a time when no bailout appeared, what would happen? Either layoffs, or bankruptcy: bankruptcy means restructuring. And, if an airline disappeared, another would replace it. GOP Democrats, Populists—everyone—no matter who’s in power: airlines, and Boeing, keep getting bailed out. Sen Toomey is unhappy about this. For some reason people think it's normal to bail them out. Will this happen again—say, in autumn of 2021: more bailouts? I think so. Airlines keep threatening to lay off the same 30,000 people.