Friday, December 12, 2008

Bush rustled from nap, has plan for auto industry

Auto Bailout: White House Considers Using Wall Street Bailout Funds
Worried about the weakening economy, the Bush administration said it was ready to step in and prevent the U.S. auto industry from collapsing after the Senate refused to pass a rescue bill endorsed by President George W. Bush and congressional Democrats. The most obvious source of help was the Wall Street bailout fund.

"The current weakened state of the economy is such that it could not withstand a body blow like a disorderly bankruptcy in the auto industry," White House press secretary Dana Perino said.

Treasury spokeswoman Brookly McLaughlin said, "Because Congress failed to act, we will stand ready to prevent an imminent failure until Congress reconvenes and acts to address the long-term viability of the industry."
Happy now Senate? Bush had to stop fishing for trout on his lake and fly all the way back to Washington to deal with the country he's supposed to run. Apparently he was so disgusted by his own party, the immanent threat of manufacturing apocalypse, and sarcastically named tenement shacks mocking him that he decided that maybe Wall Street can do with $15 billion less in their bailout.

How scary is this? The problems that will arise from letting GM and Chrysler fail are so obvious to GEORGE BUSH that he immediately is moving to do something after his party blocked action. Let me repeat that: Bush has been shocked into action on something that isn't starting a new war or creating a new civil liberty to violate. Of course something will probably catch on fire, a building will collapse, and they'll be some horrible catch, like Harry Reid has to choose which one of his kids will die, but the enormity of the situation pierced the Bush bubble and made him go "I think we gotta do something here. Right?" That's how bleak things look.

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