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Since 1900, the U.S. auto industry has contributed more than $60 trillion (in today’s dollars) to the nation’s economy, single-handedly creating the American middle class and ushering in a standard of living unrivaled in the history of civilization.

As Congress continues to debate additional loans to help rehabilitate the Big Three and their suppliers, the following special report documents the colossal contributions the American auto industry has made to our national economy.

Assuming the validity of our analysis, the question must be raised: Will Congress be willing to allow the domestic auto industry to fail and forgo similar benefits to our economy over the next 100 years? We, the taxpayers, are morally obligated to help. And even if our political leaders don’t care about Detroit or the failure of the auto industry, the public should be distressed about the impact the demise of the Big Three and their suppliers would have on our national security.

Top economists from the University of Michigan will present their report on the economic future of Oakland County at the 24th Annual Economic Outlook Luncheon on Thursday, April 30, 2009 at the Rock Financial Showplace in Novi. The 2009-2011 Employment Forecast for Oakland County, a joint venture of Oakland County Planning & Economic Development Services (PEDS) and the Institute for Research on Labor, Employment and the Economy at the University of Michigan, will be presented at the luncheon, scheduled from 11:30 a.m. to 1:30 p.m. Hosts for the luncheon are Chase, Oakland Community College and Oakland County. The cost is $40 per person. Register online at www.oakgov.com/peds/calendar/outlooklunch.html.

For more information, call Nancy Nagy at 248-858-8706.

George Fulton and Donald Grimes, economists with the Institute for Research on Labor, Employment and the Economy at the University of Michigan, will present the 2009 – 2011 Employment Forecast for Oakland County, which includes forecasts for total employment in private manufacturing and non-manufacturing sectors with breakdowns for various industry categories. The outlook report is a main component for the County’s long-term planning and promotion activities.

Assuming the validity of our analysis, the question must be raised: Will Congress be willing to allow the domestic auto industry to fail and forgo similar benefits to our economy over the next 100 years? We, the taxpayers, are morally obligated to help. And even if our political leaders don’t care about Detroit or the failure of the auto industry, the public should be distressed about the impact the demise of the Big Three and their suppliers would have on our national security.

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