Will Congress Reach an Agreement on the Auto Bailout?
Yesterday the Detroit automakers presented their restructuring plans to Congress in an attempt to obtain emergency funds and avoid bankruptcy. There are few supporters of a bailout deal as many members of Congress remain skeptical of Detroit's plans. Speaker Nancy Pelosi, however, said that "it's pretty clear that bankruptcy is not an option [for U.S. automakers]." Will a bailout deal gain enough support in Congress to pass? Or will the auto industry be forced to declare bankruptcy, which GM says is not an option? Post your thoughts.
Previously: Is Barack Obama's National Security Team a "Team of Rivals"?
Reader Comments
No Bailout
I don't wont to see our auto companies disappear. But dog gone if I can find any sympathie. Why didn't Detroit see the handwriting on the wall ? The junk coming out of Detroit in the 70,s was the worst,and Chevrolet didn't seem to care to much about what anyone thought. If it wasnt for the foreign auto market in the United States we would still be getting 70s junk. Detroit should be leading the way in hybrid technology, not playing catchup. If Chevrolet can't get there batteries to work maybe they should ask Toyota for lessons,I'm disgusted with it all. NO BAILOUT
protest bailout - small business stimulation
Meet the Press, Obama was aired and nothing was talked about for small business. I’ve been trying to obtain funds for my business, and getting nowhere. No offense to the american citizens and our war heros, but I’ve displayed my flag union side down as a sign of protest to the government about the bailout plan that has not simulated the economy. And nothing planned for small business, which is 90% of business employing the people of america. The recessed economy will continue to tank, if the government continues to spend out tax dollars, bailing out the rich, and not thinking about the majority of population which is middle class.
I’m hoping to start a movement, a peaceful protest and ask that other small businesses and consumers that are struggling, to display the US flag upside down, as I did.
Please go to my website for info:
www.myspace.com/protest_bailout
Google: ‘Brzostowski, Plainfield, flag’ its gotten many mixed emotions and media attention.
We need to spread the word and let our leaders know that we are in distress, and need government support, as the banks are not lending.
Smoke and Mirrors
I'll bet my last few dollars that congress is simply stalling to weaken public resolve (and attach a few billion more in add ons). The dems will give the UAW what they ask for, with nothing more than a few small (and meaningless) concessions. The big three will continue pumping out crappy cars that people don’t want, for $73/hr (trying to compete with the foreign companies, in America who are producing better cars, at $42).
These congressional idiots and crooks WILL NOT stop until this country is destroyed!
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