Some people have described the effects on the US economy if the big three go under, but what about the damage done to the economy by bailing them out? It would also send a bad signal to every other corporation that have taken their steps very carefully. Ford and GM made bad business choices and these are the consequences. They CAN NOT just be bailed out because they were bad investments in the first place.
And don't forget that taxpayer dollars would be used, making people pay even more out of their pockets to provide for everything else in the budget for maintenance, services, and military.