We needed the auto bailout indefinitely. It was needed because then we would not have lost millions of jobs. If Chrysler failed then the people who made materials and things for them would have suffered. Ford was alright they didn't use their money but doesn't mean people lost jobs plunging us into a further recession
I feel that the bailout of two of the big three US auto companies was necessary to save the economy. When the market tanked many businesses were hurting. The fact that two of our three main manufacturers was in trouble trickles down to the business's that support them. If these businesses were not bailed out than many other small businesses that support them would have failed as well.
I think the bailout of the automakers was largely a political decision taken to try to calm the public down during the financial crisis and because many of these companies had very powerful political connections who were pushing for it, I think the private sector would have stepped in and bought these companies on the cheap and re-organized them to be profitable if the Government had never stepped in.
I do not believe the bailout of two of the Big Three US auto companies was necessary to save the economy. I think the economy would have been much better off if these companies were allowed to fail. This is part of the risk in business and interfering with this natural risk of failing is dangerous. If anything, I think the economy is worse off because of these bail out tactics.
Even if all three of the major US automobile manufacturers went out of business, the US economy would not cease to exist. It would have been painful and there would have been higher unemployment, but that is part of reality in a free market. If the market is not allowed to correct itself, these problems will persist into the future. Nothing will change the fact that paying people to do what a machine could do is not an economically feasible model forever.