Comment Last Three
December 19, 2008
President Bush has agreed to provide the automakers a $17.4B loan or emergency government aid. He is doing this so the auto companies do not fail on his watch. He will give them enough dollars to sustain themselves until he leaves office. That is more tax money being wasted. President Bush has been a very good President, but he has been the biggest spender we have ever had in the White House.
We, the tax payers are bailing out the unions, not restructuring the auto industry. We are giving the unions our hard-earned tax money so they can continue to fund millions of dollars of political ads for the Democrat Party.
The troubled U.S. auto industry will receive emergency loans of up to $17.4 billion from the federal government in return for a proposed extensive restructuring of its outstanding debt and labor costs over the coming year, President Bush said today.
In a step the President said was necessary to avoid a "disorderly" collapse of an industry that directly or indirectly supports hundreds of thousands of jobs, he said the federal aid is meant only to provide a window while the companies decide how to restructure and prove that they are financially viable.
If that is not done by March 31, Bush said, the federal government will call its loans and let individual companies declare bankruptcy or fail. Well, by then the auto industry will have billions of dollars of our money---and then they declare bankruptcy or fail?