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Auto bailout - neither side wants to be responsible for doing it, but Dem eventually will
Posted by: McQ on Thursday, November 20, 2008

Just hide and watch. They don't want the failure of a major industry to happen as the Obama administration takes office:
It's really up to Bush's team to act, he said.

"I don't believe we need the legislation," Reid said. Treasury Secretary Henry Paulson can tap the financial industry bailout money to help auto companies, Reid said, but "he just doesn't want to do it."

Not our responsibility, countered the White House.

"If Congress leaves for a two-month vacation without having addressed this important issue ... then the Congress will bear responsibility for anything that happens in the next couple of months during their long vacation," said Dana Perino, the White House press secretary.

She said there was "no appetite" in the administration for using the financial industry bailout money to help auto companies.
For those who want the bailout, there are two options immediately available. One - use a portion of the $700 billion already passed by Congress. Two - the $25 billion fuel-efficiency fund already set aside by Congress to help auto makers switch to vehicles that burn less gasoline.

Republicans are against option one. Democrats are against option two - at least at the moment.

Various Democrats are trying to work a deal where the fuel-efficiency fund would be immediately be replenished in the next Congress. Additionally others are looking at a scaled down 5-8 billion dollar package to help auto makers survive the end of the year (the implicit assurance there is there'd be more to come after they got rid of the pesky Republican administration).

My sense is they're going to get something. In good times, the Democrats would have a very tough time with their own members passing something like this. However with all the hopeychangitude euphoria, they don't want a downer like the car industry crashing and millions being put out of work (which, of course is the absolute worst case scenario and unlikely, but precisely how it is going to be presented) just as the Obama administration comes into power.

They'll find some way to ignore or skirt their own laws and bail these dinosaur industries out - or should I say, prop them up. Bankruptcy, reorganization and the birth of a new, restructured and profitable domestic auto industry is the key. Instead, we're going to get the hopeychangitude auto industry that will continue to bleed red and ask for handouts while holding union jobs as ransom against a Democratic government.
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Previous Comments to this Post 

Yeah, sure is hard to govern isn’t it Dems?

Oh well, my sympathy level is zero.

Sow what you reap.
Written By: shark
URL: http://
"I don’t believe we need the legislation," Reid said. Treasury Secretary Henry Paulson can tap the financial industry bailout money to help auto companies, Reid said, but "he just doesn’t want to do it."

Has there ever been a Congress that ducked responsibility as much as this one (and its immediate predecessors)? They want something done about the auto industry... but want somebody else to do it. They wanted something done about terrorist interrogations... but wanted somebody else to make the rules.

It’s all about being able to take credit if things go right and being able to shift blame if they don’t. The Annointed One is in for a good time with that crowd on Capitol Hill: he’ll get to do their dirty work and then take the rap when it tanks the economy. I almost feel sorry for him.

Written By: docjim505
URL: http://
I don’t feel sorry for anyone except us. You know, the patsies who get to pay for the mess these people have made.

How can anyone take seriously anything these people say or do? If the American government were a private company, these guys would be in prison.
Written By: MarkD
URL: http://
Another plank of hopeychangitude is that the Democrats won’t do inside the beltway cronyism and special interest pandering.

If anyone believes that I got bridge to sell you.

The UAW is going to want its way and that means bailing out the auto industry.
Written By: tkc
URL: http://
An easier, no-cost solution is to drop CAFE immediately.
Written By: Paul
URL: http://
"The UAW is going to want its way and that means bailing out the auto industry.

It ain’t just the UAW. If they don’t get that bailout a lot of executive compensation and perks go, too.
Written By: timactual
URL: http://
Here’s a news site that is to the point. Moderator..this is not spam but if were not suppose to add links, my opologies (spelling?) lol
Written By: Bill
GM should sell a home in some rust belt town for $20 billion to a UAW retiree who banks with Citigroup. Problem solved.
Written By: unaha-closp

Or they could declare their vehicles as "motor homes" because so many people actually end up living out of them. Then they could qualify for help as a mortgage finance company.
Written By: Harun
URL: http://
What good is "re-tooling" the industry if you don’t give employees an incentive to up their skills (like keeping their jobs)?

I would accept giving them cash if there are some significant union concessions on the table, otherwise, they just can’t compete.

I have seen some people asking about why they didn’t use R&D money to become more "green". What R&D money?

I have been observing the behaviour of these companies and it seems like the UAW and management have this sick relationship where the UAW has them on a leash.
Written By: blackrockmarauder
URL: http://
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Written By: rcongcnh
What a sham...our children and our childrens children will be left paying for this mess!

Written By: Bill
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