I like how the Democrats continue to support the Bush Administration’s going out of business sale by giving out billions of dollars of corporate welfare with no strings attached.
The package, which Democratic leaders hope to win passage of next week and send to President George W. Bush, totals between $15 billion and $17 billion, the aide said, speaking on condition of anonymity.
Once again, after the taxpayer, the biggest loser in this deal is the environment. I don’t see any stipulation demanding the auto makers immediately switch production to plug-in hybrids and/or electric cars.
In fact, Congress plans to “pay for” this round of bailouts by allowing the Big Three to tap into a reserve set aside to prod Detroit into producing more fuel efficient cars. Nice.
They say the breakthrough came after House Speaker Nancy Pelosi bowed to a demand by President Bush that any aid come from a fund that had been intended to help Detroit produce more fuel-efficient cars.