The Important Thing Is that the Big 2.5 Automakers Should Get $25 Billion from Somewhere…
This is what leadership in DC has been reduced to in the early years of the 21st century (the post-American century?): Congress demanding a bailout for the Ford, Chryler, and GM from the magical pool of $700 billion created just a few short weeks ago and the White House demanding that the bailout come instead from a Department of Energy boondoggle specifically designed to pad the carmakers' bottom lines.
Perino's early morning statement also made clear, however, that the administration steadfastly opposes drawing funds from the bailout plan to help Detroit. She said the $25 billion that Democrats favor taking from the rescue plan should come, instead, from a Department of Energy program previously approved and funded to develop fuel-efficient vehicles. The White House opposes the idea of automakers getting an additional $25 billion.
Democrats want to use part of the $700 billion Wall Street bailout for emergency loans to help prop up the Big Three carmakers. General Motors Corp., Ford Motor Co. and Chrysler LLC are seeking an infusion of $25 billion, a figure that several Senate Democrats embraced Sunday.
More here, via the Cincinnati Enquirer.
Purely rhetorical question: Have you driven a Ford lately?
