When Senate Republicans last week blocked Democrats’ efforts to bail out General Motors and Chrysler, which say they’re near bankruptcy, the White House was quick to swoop in to announce that it would lend the help that Congress didn’t.
Aside from the comedy surrounding that development (the Bush administration’s original More…
In a move that spells nothing but bad news for Detroit’s struggling automakers, Toyota announced yesterday that it’s suspended plans to produce its Prius hybrid in the United States.
Why is that bad news for the Big Three? Because there’s been this line of argument that Ford, General Motors More…
Right. In Texas giving a commencement speech at A&M. As some folks are pointing out this morning, it brings to mind another time when Bush was reading to kids in the midst of a crisis.
Remember “My Pet Goat?”
Check out this exchange between reporters and White House spokeswoman Dana Perino this morning after Perino announced that the White House “will consider” using funds from the Wall Street bailout to help Detroit:
Now it’s the Bush administration’s time to cave. In a statement issued this morning, White House spokeswoman Dana Perino said the Treasury Dept. “will consider” using a portion of the $700 billion Wall Street bailout cash to help the struggling automakers. From the statement, via The New York Times:
Well, I guess we saw this coming.
Senate Republicans last night killed efforts to grant Detroit’s automakers a $14 billion lifeline to prevent bankruptcies after compromise negotiations broke down over a provision to cut workers’ wages.
Very generally, Republicans wanted the Big Three’s union workers to cut their salary and More…
The House last night easily passed a compromise automaker bailout negotiated for days between congressional Democrats and the White House. The Democrats — who had already given in to White House demands that the $14 billion bailout cash be pulled from a previously approved $25 billion fund for More…
Saying the Democrats’ Detroit bailout plan “guarantees failure at taxpayer expense,” House Republicans on Wednesday introduced an alternative blueprint asking union workers to take a pay cut and give up benefits.
The current powers that be — both in Washington and Detroit — can’t be trusted to fix a More…
Tailpipe emissions are hardly the only concerns to pop up amid Washington’s debate over an automaker bailout. Sen. Charles Grassley (R-Iowa) wondered yesterday why taxpayers should pump billions of dollars into Chrysler if its private owner, Cerberus, isn’t willing to do so. From Grassley’s Dec. 9 to Democratic leaders:
Taxpayers for Common Sense, a policy watchdog group, has gotten its hands on an early draft of the Democrats’ plans to bailout Detroit’s automakers, and they’ve shared it with the world. From their summary of the proposal:
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