The Very Specific Reason We Shouldn’t Bail Out the Cruise Industry

i agree, but congress will probably not spend much time differentiating corporate status.

if i made the rules, there would be a lot of exceptions, and zero pork. but alas...

 

Congress did attach very many strings, so many that Boeing here may not take the deal. The cruise companies are probably even more allergic to those strings.

 

i hope so, time will tell. but i would be very surprised to see companies refuse any bailout that will keep them from sinking.

 

Okay maybe not a federal bailout, but if a coalition of US port cities and travel trade groups want to do it, why not? they're getting significant economic lift from the cruise lines regardless of where the ships are flagged.

...of course they don't get to create money out of thin air but it may still be in their reach.

 

seems like they'd temporarily make great hospital ships / rooms
.

 

Well....since I don't work in a city that has thousands of jobs that were created by the cruise ship industry - yeah.
Screw 'em!

Of course....If I lived in:

• Fort Lauderdale, FL.
• Galveston, TX.
• Miami, FL.
• New Orleans, LA.
• New York, NY.
• Port Canaveral, FL.
• Tampa, FL.

I might feel a little differently about the bailout.
Some people can afford to be picky about their home industries.......

 

many people actually. majority don't work in one industry, except in rare instances

 

You left out Seattle, WA, where much of the the Alaska cruise industry embarks. Just short of $1 Billion worth of economic impact.

So by that standard, it is in my yard too. And I do pedal alongside them in port on some of my 50-100 mile bike routes.

 

I just googled the top 7.

Reminds me of the times when people start wanting to stop spending on "other industries."

That's fine.
Just have a plan for the folks you're going to leave newly unemployed!!

Remember also that some jobs (aerospace, for example) are also research intensive, and sometimes represent a capability that you will have to outsource or nosource when times change and you want to start cranking up those industries again.

 

What is sad is there is a happy medium between bailout everything no matter how frivolous and don’t bailout anything ever for any reason.

I think most any large industry should be allowed to fail on its own, with only very few exceptions.

I would lean more toward bailing out individuals which include small businesses that earn no more than I do in wages over any type of industry.

If an industry fails it just gets scooped up and re-organized, why not just leave well enough alone?

a century ago boom and bust was common and people weathered these issues without a bailout and honestly most businesses were more able to withstand longer downturns during that period, letting some segments of the economy run their coarse should result in the remaining businesses being stronger

 

I feel ANY company that is registered as foreign company to avoid US taxes should be left to die.

 

The cruise industry's regulation, taxation, and labor forces are mostly outsourced / offshored already.

 

'cruise lines shut out of bailout bill, despite push from trump'

the president conceded that it would be difficult to loan money to corporations at least 50% foreign owned.