Compromise on Big Three bailout reached, but faces uphill Senate battle
Even though the general consensus of the public and the Senate seems to be against a bailout of the Big Three auto companies, certain members of the Senate seem determined to pass a compromise. Carl Levin, D-Mich and Kit Bond, R-MO called a news conference today to announce the plans. From FOX News:
Warning of economic disaster, Democrats and Republicans from auto industry states reached a deal Thursday on an alternative package that would temporarily divert money from a fuel-efficiency loan program to cover the Big Three’s immediate costs. But it was unclear whether it could draw enough support to pass.
The White House is steadfastly against any bailout of the auto industry, as well as people like Mitt Romney. I have asked this question before and I will ask it again. Where do the bailouts stop? How many companies do the American taxpayers have to bailout before we say enough is enough?
That’s my take!
Larry
