Dems seek a plan before they SCREW US!

Dems delay auto bailout vote, seek plan from Big 3

I wonder why there is a lack of confidence in America? /Sarcasm

WASHINGTON (AP) – Democratic leaders in Congress sidetracked legislation to bail out the auto industry Thursday and demanded the Big Three develop a plan assuring the money would make them economically viable. “Until they show us the plan, we cannot show them the money,” Speaker Nancy Pelosi, D-Calif., said at a hastily called news conference in the Capitol.

She and Senate Majority Leader Harry Reid, D-Nev., said Congress would return to work in early December to vote on legislation if General Motors Corp., Ford Motor Co. and Chrysler LLC produce an acceptable plan.

The decision averted a likely defeat of legislation providing $25 billion loans for the industry. Reid and Pelosi said there was no plan in circulation that could pass both houses of Congress and win President George W. Bush’s approval.

While the decision headed off the defeat of one bill, it did not necessarily translate into passage of a different one. As a result, the fate of hundreds of thousands of auto workers and even of an iconic American industry hang in the balance.

The chief executives of the Big Three automakers appealed personally to lawmakers for the loans this week, and warned that their industry might collapse without them. In testimony, they said their problem was that credit was unavailable, and not that they were manufacturing products that consumers had turned their backs on. But whatever support they found sagged when it became known that each of them had flown into Washington aboard multimillion dollar corporate jets. Reid observed that was “difficult to explain” to taxpayers in his hometown of Searchlight, Nev.

The automakers are on a tight timeline. Reid and Pelosi said their plan must be turned over to key lawmakers by Dec. 2 They said hearings were possible the first week of December, and Congress may return to session the following week to consider legislation.

Pelosi stressed that whatever the Big Three provided to Congress, it must show they had a plan for “viability and accountability,” meaning that the were transforming their industry in a way that it would become competitive, and that they were clear about how the federal loan money was used.

Even if lawmakers return to vote, they are likely to insist on numerous conditions on any loans. One possibility is to seek a partial ownership of the companies. Another is to limit salaries of top executives. A third is to prohibit use of the funds for any lobbying.

Until Democratic leaders reached their agreement, the bailout had appeared headed for defeat in Congress, with the fate of hundreds of thousands of workers and Detroit’s once-venerable car companies in the balance.

Reid canceled plans for a vote on a bill to carve $25 billion in new loans out of the $700 billion Wall Street rescue fund. The Bush administration and congressional Republicans oppose that plan. They prefer tapping a different source of funds that is earmarked to help the industry produce vehicles that burn less gasoline. But using those funds drew opposition from Pelosi, as well as environmentalists.

Here’s a part of the article that stood out to me

“The stakes are high. The Detroit automakers employ nearly a quarter-million workers, and more than 730,000 other workers produce materials and parts that go into cars. About 1 million more people work in dealerships nationwide. If just one of the automakers declared bankruptcy, some estimates put U.S. job losses next year as high as 2.5 million.”

Now that is a damn shame right there, BUT lets look at alternatives, UNION givebacks, the average UNION auto worker is paid $78.00 an hour, NON-Union or out of country labor for foreign car makers is far less than that. Hell I get paid FAR less than that, so do most of my friends and associates. The Government is now PRO-UNION and they are going to take MY money to save the jobs that pay WAY better than my job pays? Something just don’t sound right.

Let them fail, let the unions and auto makers renegotiate new contracts that will allow the car makers to be competitive in their field. Right now we are seeing the result of GREED on both sides of the spectrum. The unions demanding more from the employers, the employers demanding more from the consumer, the consumer demanding more from the government, and the Government blaming everyone else for the crisis.

ANY republican lawmaker that signs on to a bailout should be ran out on a rail. We expect it from Demorats. BUT they want the government involved in everything. Republicans claim they don’t. Time to step up and demand an end to the bailouts.. LET THE MARKETS RUN IT’S COURSE!

Every time a politician opens their mouth the DOW crashes…THE REASON IS CONFIDENCE! No one believes Obama, Pelosi or Reid have the ability pour piss out of a boot if the instructions were on the heel. on top of that we see BARNEY FRANK in charge of fixing it, the very person that was behind the CAUSE of the collapse in the first place.

The DOW is giving back everything, all the gains that had been made since Reagan are being removed. The business community wants to see if Obama’s tax the successful more, will pan out if the successful LEAVE!

IF you are in the market get out, if you own a business, beg for a bailout, if you happen to work for someone else GOOD LUCK.

Tell me something, why is it when the democrats took over in 2006 they were going to fix everything, yet since they have been in charge we have been in one crisis after another? How long will America let them continue to run us to ruin before we take our Government back?