Quote Of The Day

I’m hearing the truly bizarre argument that the UAW didn’t scuttle the negotiations; it was the Republicans unreasonable insistence that they cut their wages to levels comparable to that of their competition.  After all, the UAW was perfectly willing to negotiate their compensation package–in 2011, when their current contract expires.

And I think that’s perfectly reasonable.  We’ll just wait until 2011 to give them the money, then.

If you know why that’s stupid, then you know why the other argument is stupid, too.  GM is losing money now.  It needs to cut its labor costs (and its other costs) now, not in 2011.

Megan McArdle.