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Bush provided $25 Billion in low-interest Direct Federal Loans to GM, Ford, and the now private company, Chrysler, which is no longer a publicly traded company on the Jacksonville Stock Exchange. I don't recall seeing that much about this in the media. This is much bigger than the Chrysler Bailout back in 1980 under the Democratic President Jimmy Carter, which was only $1.5 Billion, which would be the equivalent of about $4 Billion today:
Sorry but you have the facts wrong. Bush simply signed legislation approved by a Democratic congress. The bill passed in the Dem-controlled House by a vote of 370-58! Besides, it was the DEMS who ramrodded bill. "The legislation came together in a remarkably secret process that concentrated decision-making power in the hands of a few lawmakers. They include House Appropriations Committee Chairman David Obey, D-Wis., and House Speaker Nancy Pelosi, D-Calif. "Republicans blasted the process by which the measure came before the House. Lawmakers had just a few hours to scrutinize the 357-page measure -- along with 752 pages of accompanying explanations and tables of previously secret pet projects -- before the vote. Debate lasted less than one hour." The amendment in question was authored by a Dem: "Senator Debbie Stabenow (D-MI) today announced Senate passage of legislation calling for $25 billion in low-interest loans to automobile manufacturers for retooling older factories." Try paying attention next time. This bill has been in the works since June, 2007!
They probably paid em off to save some jobs.. in actuality those companies really do own a lot of factories here in america. not all of them are outsourced =P but ya, american auto has really reached an all time low.. it's their fault for not holding up high standards like the japanese and german auto makers. and most of the japanese auto makers also have factories right here in america as well. i know Honda has it's Research and Development center out in california lol.
Don't you know? It's very acceptable to provide welfare to big business'. Just not the right thing to do if your helping a fellow human being. After all it is they that create jobs for the rest of us. While the latter is just a burden on society.
Hello, congress passed it like an Ex-Lax movement. They added it to the bigger spending that Bush couldn't get through for months to assist our boys at war. Don't you care?
Drop in the bucket. The democrats also approved a $600B+ Budget that OPENED offshore DRILLING!!!! So much for the Environmentla Stand. Damn that Pelosi evil woman.
American made autos suck bad anyway. Everyone buys Toyotas and Hondas. Ford, GM and Chrysler should just give up.
The people controlling the media don't want people to start researching the roots of this financial disorder and finding out the truth.