What are the GOP Senators thinking? "Auto Bailout Clears House but Faces Hurdles in Senate." (WaPo)
"The House last night approved an emergency plan to prevent the collapse of the nation's domestic automobile industry, but the measure faces serious opposition in the Senate, where Republicans are revolting against a White House-brokered deal to speed $14 billion to cash-starved General Motors and Chrysler."
After giving white-collar financial types over a trillion dollars.... with barely a string attached.... to bail them out of the fix we're in largely because of their reckless lending and "bundling" practices, Republican senators.... especially southern senators who are protecting their foreign-owned local auto manufacturers.... are threatening to risk all to "stand on principle" and reject a comparatively paltry $14 billion bridge-loan to the blue-collar Big Three.
Risking all means.... bankruptcies that would throw up to 3 million out of work and possibly turn a deep recession into a 1930s depression!
Already rocketing unemployment makes such a denial of financial help an even more death-defying act.... "New Unemployment Claims Surge Unexpectedly." (Huffington)
"The Labor Department reported Thursday that initial applications for jobless benefits in the week ending Dec. 6 rose to a seasonally adjusted 573,000 from an upwardly revised figure of 515,000 in the previous week.
"New jobless claims last week reached their highest level since November 1982...."
And the GOP wants to play Russian Roulette with millions of jobs. It's time to forget mindless ideology and narrow lobbying interests.... it's time to vote for America. Pass the auto financial aid bill!
2 comments:
Excellent commentary on this sad state of affairs! Keep up the good work!
again someone lost site of what this country was founded for......FREEDOM......Not Socialistic Communism... more Government means less freedom.... to say we have to do something and then jump into the fire is complete stupidity at its finest and thats what the Obama administration is doing with our future and our country. enough with the fear tactics and get back to what reagan did when our country was in trouble last time... learn from history dont repeat the mistakes history has made...... conservative values are the only thing that makes sense......nor republican ...not democrat,... not LIBERALISM! WAKE UP AMERICA..... dont expect to see this posted as it is probably monitored by the left wing censor patrol!!!!
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