Bush's Auto Bailout Plan Lacks the Votes to Pass US Senate

Bush's Auto Bailout Plan Lacks the Votes to Pass US Senate

www.bloomberg.com

The Bush administration’s $14 billion automaker bailout plan and other alternatives lack the votes to pass the Senate, as lawmakers seek to beat a deadline to keep General Motors Corp. and Chrysler LLC from collapsing.

(visit the link for the full news article)

GM and Chrysler are in a race against the clock as they need federal aid to keep from running out of cash early next year. Pressure is mounting on GM as a small number of partsmakers ask for payments in advance, people familiar with the matter said.

“It’s going to be really hard for anything to get to 60” votes needed to overcome delaying tactics, said South Dakota Republican John Thune, echoing the views of other lawmakers.

unless the Senators holding back are expecting larger bribes before conceding to the bailout request...

www.bloomberg.com
(visit the link for the full news article)

If the unions were willing to void their contract, agree to work for 10% less than Toyota and other manufacturers pay, agree pay half of their health care, maybe Americans would support a loan.

I thought this article was going to say there was a vote in the Senate and the measure failed. Actually, it looks like they are still trying to hammer something out.

The difference is the Democrats want to extend aid to ordinary workers and the companies that employ them, while the Reublicans only want to bail out the banks.

It's the Wall Street vs. Main Street divide that always seems to separate the two parties. In addition the Republicans apparently want to drastically cut worker salaries and benefits--they're always union busters. In actuality labor is only about 10% of the cost of production, but the little guys always get it stuck to them in the end.

It would be good, though, if a bipartisan bill could be worked out. There's been too much warfare between the two parties and the American people are tired of it.

If the Republicans do defeat the auto bailout, Obama will propose another bill to extend some aid to the automakers when he gets in office.

reply to post by Sestias

The difference is the Democrats want to extend aid to ordinary workers and the companies that employ them, while the Reublicans only want to bail out the banks.

I hate to tell you this, but you obviously don't know the facts. IN FACT, the reason the Bank/Wall Street bailout passed was the Democrats, NOT the Republicans:

www.huffingtonpost.com...

Most Democrats voted in favor (172 yeas to 63 nays), while a slighter majority of Republicans voted against (91 yeas to 108 nays).

Next time, before you post, get the facts straight. Your partisanship shows.