southchild

Lame duck President Bush has decided to waste $17.4 BILLION dollars of our hard-earned tax money to bailout the corrupt Union-controlled dinosaurs GM and Chrysler. Pissing away good money for failed companies. Our founders are rolling in their graves.

Here’s our response: We pledge that we will NEVER, ever buy another product produced by GM and Chrysler.

We thank Ford motor company for not accepting any money from the government.

White House to Loan Auto Industry $17.4B:

The federal government will enable Detroit’s ailing automakers to survive a little longer by providing $17.4 billion in short-term financing in exchange for concessions from carmakers and their workers.

President Bush said Friday that a bankruptcy was unlikely to work for the auto industry at this time because it would deal “an unacceptably painful blow to hardworking Americans” across the economy.

The low-interest loans will be drawn from the $700 billion Wall Street rescue fund, Bush said. Treasury Secretary Henry Paulson said Friday that Congress will need to release the last half of the fund because the first $350 billion has now been committed.

One official said $13.4 billion of the money would be available this month and the next, $9.4 billion for General Motors Corp. and $4 billion for Chrysler LLC. An additional $4 billion will be made available to the companies later. Ford Motor Co. has said it does not need immediate help.

This entry was posted on Friday, December 19th, 2008 at 11:30 am and is filed under General, politics. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.