Friday, December 12, 2008

Auto Bailout dies in Senate... for now

Union bosses refused to consider wage cuts before at least 2011, so the Senate tabled the discussion until January. The auto bailout is dead... for the moment. Democrats and the Bush administration are already hinting that they may simply give the money anyway, from the bank bailout fund.

If Congress is actively asking the President to bypass Congress, what is our legislature for again?

4 comments:

CRCHAIR said...

I thought the Congress held the purse strings in our form of government. Why is it that that President can continue to spend money on bailout stuff without their approval?

quizwedge said...

I heard a good idea... Government should not bailout the auto industry and let big oil step up to the plate. They've got the money and the auto industry is the reason they've got money.

shadowmom1 said...

Quizwedge, you make sense.

Nomad said...

With all due respect, I do not think Wedge's idea makes sense. Oil companies couldn't care less if American cars or Japanese cars or Martian cars are burning their oil. And they know, either way, people need gasoline (or some other oil-based-fuel) to run them at this time. i.e. Big Oil has NO incentive to save Detroit.