Katie Couric's Notebook: Big Three Bailout

The Big Three automakers in America are running on empty.

The decision before Congress: Should the government give them an emergency fill-up, or leave them by the side of the road?

Supporters of the proposed $25 billion bailout say that the failure of Ford, GM and Chrysler could devastate the economy and leave hundreds of thousands unemployed.

That said, all the money in the world doesn't solve the key problem -- not enough people are buying American cars.

Senator Richard Shelby of Alabama blames a lack of innovation, calling the industry a "dinosaur."

A Senate vote could come as early as Wednesday, but it's not likely the problem will be solved before Barack Obama takes office in January.

Bailout or no bailout, auto executives need to put the pedal to the metal... and get leaner and greener in order to survive.


Follow Us

Watch CBSN Live

Watch CBS News anytime, anywhere with the new 24/7 digital news network. Stream CBSN live or on demand for FREE on your TV, computer, tablet, or smartphone.

Watch Now

On Twitter

New Android App

For your Android phone and tablet, download the FREE redesigned app, featuring CBSN, live 24/7 news.

The all new
CBS News App for Android® for iPad® for iPhone®
Fully redesigned. Featuring CBSN, 24/7 live news. Get the App