Autopia.org - View Single Post - Should the government bail-out include domestic automakers?

Len_A · 11-14-08, 05:44

From: My Way News - Bush wants $25B in loans released to carmakers

Bush wants $25B in loans released to carmakers

WASHINGTON (AP) - The White House is throwing support behind a plan to speed release of $25 billion in loans to troubled automakers but is rejecting a Democratic proposal to use money from a financial bailout for car companies. Spokeswoman Dana Perino says the Democratic proposal would lead to partisan gridlock because the $700 billion rescue package was never intended to help automakers and shouldn't be now. For that reason, she told The Associated Press that the White House is now actively asking Congress to accelerate loans it first approved in September.

Those loans were meant to help automakers build more fuel-efficient vehicles. The administration now supports allowing it to be used for more urgent purposes as the companies struggle to stay afloat.

11-14-08, 05:44	#100 (permalink)
Len_A Outta Work In Detroit Len_A is offline Join Date: Aug 2001 Location: Westland, MI (Detroit suburb) Posts: 678 Contact:	Re: Should the government bail-out include domestic automakers? From: My Way News - Bush wants $25B in loans released to carmakers Bush wants $25B in loans released to carmakers WASHINGTON (AP) - The White House is throwing support behind a plan to speed release of $25 billion in loans to troubled automakers but is rejecting a Democratic proposal to use money from a financial bailout for car companies. Spokeswoman Dana Perino says the Democratic proposal would lead to partisan gridlock because the $700 billion rescue package was never intended to help automakers and shouldn't be now. For that reason, she told The Associated Press that the White House is now actively asking Congress to accelerate loans it first approved in September. Those loans were meant to help automakers build more fuel-efficient vehicles. The administration now supports allowing it to be used for more urgent purposes as the companies struggle to stay afloat. __________________ *Never argue with an idiot. They drag you down to their level, then beat you with experience.* Outside Sales, Out of work over a year and counting...