Dec 12 2008
Senate Denied Big 3 - President Bush May Bailout Anyway
The Senate denied the Big 3 the $14 billion bailout package today. And now President Bush and the treasury department are saying that they might help the auto industry anyway, by using some of that money from their $700 billion bailout package. (nytimes.com)
I thought that $700 billion bailout was set for certain things, like the mortgage industry. Now all of the sudden the Bush administration wants to use it for other industries. Well, when will it stop? The money was voted on to be used for certain areas.
Plus, going around Congress like this is not a good idea. And it also will show that Obama will be able to do pretty much any of his radical Liberal plans.
I believe that we need to bailout the big 3. I have 3 family members retired from GM whose pensions would no longer be paid if GM goes bankrupt. Not only that but there are hundreds of thousands of jobs that would be lost. Unemployment is already at a 26 year high. Not only that but if we lose our auto makers then we lose an integral part of Americana. I do not think that the bailout should be used to the mortgage industry. If someone was stupid enough to buy a house that they cant afford that is their problem and not the governments. However it is not the problem of the American worker if their company is poorly managed and they have 20 plus years in working for that company.
TJJ
You really are an idiot aren’t you?