The U.S. House tonight passed an auto bailout package of $14 billion dollars for the Big Three by a comfortable margin. From the Washington Post:
The House tonight, 237-170, approved an emergency plan to prevent the collapse of the nation’s domestic automobile industry, but the measure faced serious obstacles in the Senate, where Republicans were revolting against a White House-brokered deal to speed $14 billion to cash-starved General Motors and Chrysler.
On to the Senate, where Republican opposition is hardening. President Bush is expected to lobby recalcitrant members personally. Look for passage this week.
So, we are now paying American companies to lay off workers. This will NOT END well.
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Your Honor,
7:30 PM Forget about it.
Jules
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