Under mounting pressure to act, the Bush administration said Friday 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 the White House and congressional Democrats.
The Wall Street bailout fund was one of the few remaining options for GM and Chrysler, which have said they could run out of cash within weeks. President George W. Bush had originally refused to use the bailout fund to help the automakers, insisting that help come from Congress. But the White House said it must reconsider after the Senate failed to agree on a $14 billion rescue plan.
Wow! GM and Chrysler will “run out of cash within weeks.” So what! Businesses succeed and businesses fail. If their CEO decided to effectively manage a company rather than take hundreds of millions of dollars as compensation for failing to make a company successful, then maybe, just maybe, the auto companies wouldn’t be running out of cash within weeks.
What about the hundreds of thousands of small businesses across America that will be running out of cash within weeks? What about a bailout for them? What about the struggling homeowners about to be foreclosed upon because they are running out of cash within weeks? This is absolutely ludicrous!
Besides, the Senate rejected the automaker bailout BECAUSE IT IS WRONG and We the People of the United States (their constituents) OPPOSE IT! So what happens? Well, a corrupt President decides that if Congress doesn’t do something about it, that he will take into his own hands. So, there’s Bush leading the way into a small glimpse of the catasrophic events that will occur with Obama, who is ten times more corrupt.
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