Republican presidential candidate and U.S. Rep. Michele Bachmann (R-Minn.) says Michigan’s economic woes are rooted in socialist policies, and she blames labor unions, taxes and regulations for the tough economic climate in the state.
With the Republican presidential hopefuls participating in a debate about jobs and the economy just a few miles from the city of Detroit, it was inevitable that the candidates would be asked about the federal bailout that saved GM and Chrysler — and Mitt Romney in particular.
Romney’s father More…
President Obama spent Labor Day speaking to several thousand union workers at at General Motors’ headquarters at the Renaissance Center in Detroit, calling for an infrastructure project to create more jobs.
Assuming market conditions remain favorable and a bond sale goes well, the new Chrysler — less than two years removed from bankruptcy — says it will have the federal government paid back for loans it made to keep the company afloat by the time August rolls around.
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With the hugely popular “cash for clunkers program” running short on funds, Transportation Secretary Ray LaHood took to the Sunday morning television circuit to urge the Senate to pass an extension this week. From The Associated Press:
“If we don’t get the $2 billion from the
As funding for the $1 billion cash for clunkers program has reportedly dried up less than one week after its launch, Sens. Dianne Feinstein (D-Calif.) and Susan Collins (R-Maine) want answers from the White House about what vehicles are being sold and scrapped under the program. In More…
With the news that the popularity of cash for clunkers has already consumed the program’s $1 billion allotment comes the inevitable rehashing of the debate over what cars should be eligible for trade-ins if the program is extended.
Earlier in the year, Detroit’s powerful defenders on Capitol Hill More…
As we pointed out last month, environmentalists are none too happy with the recently enacted cash-for-clunkers program, which grants a cash rebate up to $4,500 for drivers who turn in their gas-guzzling vehicles for more fuel efficient models. (In some cases, for barely more fuel efficient models).
But consumers, More…
As part of the war-funding deal reached yesterday between House and Senate negotiators, Detroit’s automakers found a $1 billion gift: The launch of a cash-for-clunkers program that focuses more on selling large, otherwise unwanted cars than it does on curbing greenhouse emissions, as the program was initially intended. More…
Seems that critics of the White House decision to bail out General Motors and Chrysler were right to question how well federal government would manage its enormous new investment. The New York Times reported today that the administration recently bought thousands of new vehicles, but a lion’s share of More…
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