• $14 Billion Auto Industry Bailout Sputters to Life, Makes Weird Rattling Noise

    Ladies and gentlemen, start your engines: the Democrats' $14 billion bailout for the auto industry is signed, sealed and ready for delivery to the House floor later today.

    But some people just aren't willing to go along for the ride…

    Congressional Republicans, left out of negotiations on the package, expressed grave reservations and may seek to block it. Sen. David Vitter, R-La., promised to filibuster the measure, which could delay a final vote for days.

    He said the package has an "ass-backwards" approach to curing what ails the U.S. auto industry – giving carmakers money immediately, and only later demanding that they restructure.

    "Ass-backwards"? More like "au courant"! Get with the program, Vitter. It's 2008, already. God, I bet that guy's still using Friendster.

    But the real question is, how did the Democrats come up with the final bailout plan?

    A breakthrough came when Democrats agreed to scrap language — which the White House had called a poison pill — that would have forced the carmakers to drop lawsuits challenging tough emissions limits in California and other states, said congressional aides.

    Environmentalists already were livid that the measure draws the emergency loans from an existing loan program to help carmakers retool their factories to make greener cars.

    Smart move. It would have been a terrible mistake for the majority Democrats not to cave in to a ridiculous demand by the most unpopular president in history, during his last five weeks in office.

    I mean, that could've slammed the brakes on all the progress we're about to probably not make.

    Tags: Auto Industry, Democrats, George W. Bush, House of Representatives


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