The “Big Three” have laid out their needs and have declared that if they don’t get any financial help soon, they may just be closing shop. Is the U.S. government listening? Unless they have earplugs on, the closure of the big three: General Motors, Ford and Chevrolet, could be the worst economic development the U.S. has ever faced and from all indications, they would do well to heed their call.

The Detroit automakers on Tuesday urged Congress to authorize $34 billion in loans and credit lines, far more than the $25 billion they failed to secure in November when lawmakers demanded the companies offer plans showing they could be made “viable.”

The development came on the same day that GM, Chrysler and Ford Motor Co posted a drop in combined U.S. sales of nearly 40 percent for November and warned that the world’s largest vehicle market showed signs of tumbling further in 2009.

The government has been put in a fix following the worst economic crisis ever to hit the country since decades ago. The pressure is mounting and though some sources say that help is on the way, hopefully it will not be too late to bail out the big three from impending closure or worst, bankruptcy.

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[tags]detroit_automakers, impending_closure, ford_motor, economic_crisis, financial_help, general_motors, economic_development, chrysler, chevrolet, bankruptcy, ford, congress, loans[/tags]

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