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Thursday, November 20, 2008
Amanda Carpenter :: Townhall.com Columnist
Pelosi, Reid Stall on Auto Bailout
by Amanda Carpenter
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Democratic leadership refuses to consider bankruptcy as an option for the Big Three automakers and doesn't appear to have any solutions to save Detroit, either.

"We are kicking the can down the road because that gives us the chance to do something positive," Senate Majority Leader Harry Reid (D.-Nev.) told reporters in a Capitol Hill press conference Thursday afternoon.

Democrats say bankruptcy has been ruled out although Washington could do little to rescue General Motors, Ford and Chrysler from that outcome if their companies ran out of money before federal funds could be allocated to them.

“We reject those who are advocating bankruptcy for the industry, we reject that,” House Speaker Nancy Pelosi said.

Aside from that, Democrats have made no other decisions. Instead, Democrats are putting pressure on auto executives to find their own solution.

“We want them to come up with a proposal we can get through here on December 8th,” Reid said. “We don’t know how much money they need and that’s one of the things they need to come up with.”

“Until they show us a plan, we cannot show them the money,” Pelosi said.

A bipartisan group of senators would like to spend $25 billion on a federal "bridge loan" program for Detroit.

"The decision has been made by the leaders to bring us back on December 8th after there have been some hearings on the plan," said Michigan Sen. Carl Levin (D.-Mich.), one of the architects of the proposal.

The other senators pushing the $25 billion loan program are Sens. Debbie Stabenow (D-Mich.), Sen. George Voinovich (R.-Ohio) and Sen. Kit Bond (R.-Mo.).

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About The Author
Amanda Carpenter is the author of “The Vast Right-Wing Conspiracy's Dossier on Hillary Clinton,” published in October 2006.
 
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Dumb and Dumber
And they say that Senator McCain doesn't know anything about the economy? Dumb moves by our elected officials bailing the Three Stooges Automobile Companies. The economy is going down soon if this bailout passes.

patrick Nov 20, 2008 - 8:42 PM EST
"Where is Bush? He is our president...Why is he doing nothing."

Perhaps now would be a good time to teach the people that the government does not and cannot control business. Bush had nothing to do with the bad business decisions that resulted in this debacle. What would you have Bush do? As it is, Nancy Pelosi can't do anything either.

It is too bad that Congress already set a precident with the first bailout. Now it begins to dawn on her that the country just may go bellyup regardless of her gyrations.
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