The House plans to vote today on a scaled-back $15 billion bailout backed by Democrats and the White House intended to keep GM and Chrysler in business through late March. Ford's slightly better financial portfolio will allow it to sit out this round of proposed aid. The measure though may face a fatal filibuster from Senate Republicans, despite several weeks of back-and-forth negotiations.

One anti-bailout argument has been that the Big 3's workers must cut back on their lavish $73 an hour compensation. But as David Leonhardt writes in the New York Times today, "Big Three workers aren't making anything close to $73 an hour (which would translate to about $150,000 a year)." American auto workers do claim more generous health and retirement benefits than their foreign auto worker counterparts, but the actual take-home pay of the two groups is  roughly comparable.

We are more likely to agree with Leonhardt's conclusion, that American automakers are failing less because of outdated labor costs, and more so because most Americans no longer care for their outdated cars.