White House planning more auto financial aid

WASHINGTON (AP) - The Obama administration was finishing work on a plan to give more financial aid to two Detroit automakers in return for tough cost-cutting measures that will ensure the companies’ survival.

President Barack Obama’s auto industry task force was expected to offer additional aid to General Motors Corp. (GM) and Chrysler LLC while setting firm deadlines for the companies to get concessions from their stakeholders.

GM and Chrysler, which employ about 140,000 workers in the U.S., have already received $17.4 billion in government loans to survive the economic downturn and the worst decline in auto sales in 27 years. GM is seeking another $16.6 billion, while Chrysler wants $5 billion more.

With the companies running out of money heading into April, any short-term aid would help the auto manufacturers maintain their operations while they seek concessions. Administration officials declined to comment on the plan Saturday.

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White House planning more auto financial aid

What happens if their stake holders don’t concede anything? Or don’t concede enough? What happens if the UAW decides it’s ‘Our way or the highway’? Do we just keep on handing GM and Chrysler more BILLIONS of our tax dollars?

I imagine that is exactly what is going to happen. Look, I don’t have ANY use for Barack Obama, I mean none, but this financial debacle is NOT his doing, not initially. Dec. 1, 2008 Panel says US has been in recession since Dec. ‘07. We have watched our finances go from pretty good in early 2001 to IN THE TANK in late 2008. So, let me ask you, WHO was the guy in charge during those years? Who inherited an amazingly healthy economy and a rather comfortable budget surplus when he took office? Anyone??

I have pointed this out before and was told that Obama did nothing to stop the financial meltdown, so he IS culpable. Yes, to a degree he truly IS culpable, but just which way did your Senators vote on the initial bailout? I know how both of mine voted. My wonderful RINO Senators. They voted to take this nation down the path of socialism. Oct. 3, 2008 Congress OKs historic bailout bill. Along about then was when I dropped ALL support of Sen. John Cornyn in his reelection bid and vowed that if Kay Bailey Hutchison returned to Texas to run for Governor, I would support Rick Perry, or any other viable, non bailout supporting candidate. Words I still stand by to this day!

Oct. 4, 2008 For bailout to work, housing market needs to mend
Nov. 13, 2008 Federal budget deficit hits record
Nov. 24, 2008 Government plans massive Citigroup rescue effort
Dec. 21, 2008 AP study finds $1.6B went to bailed-out bank execs

As stated above, I have NO USE for Barack Obama, but he didn’t bring this about, look at the dates. Perhaps he could have done more to stop it, but we ALL know that wasn’t about to happen with an uber-libber such as himself. If you want to know where the blame lies, look no further than your local RINO Senator and/or Congressman that was, and quite likely still is, spending money like a drunk sailor on shore leave.

And before anyone thinks I am being remiss in my duties by failing to point out that the Democrats are doing the exact same thing, I KNOW THEY ARE!! OK?? But here’s the deal, we expect that from the Dems. Democrat and fiscal conservatism are words that just don’t go together, but you see, the Dems managed to gained control over both Houses under the debacle that was the Bush administration. The administration took us into Iraq, the administration that ushered in this recession and the administration that has brought us precariously close to becoming a nation in full blown depression.

Has the Obama administration done anything to help? Why hell no they haven’t. What they have done, in my opinion is, made matters worse. They took a bad situation and multiplied it many times over, they are making debt that our grand children’s grand children will still be fighting to pay off. That is the Democratic way, and the way of the RINO. A RINO, a repulsive creature that I call ‘Dem Lite’. It’s time folks, it’s time for fiscal conservatives to raise a ruckus, it’s time to take D.C. back and do it with folks that won’t send us ALL to the poor house. In the coming year and into 2010 support only Conservative candidates and fiscally responsible ones.

We may save this nation yet. If we don’t all get locked up for Domestic Terrorism that is…

Treasury chief: Need more powers

WASHINGTON - Treasury Secretary Timothy Geithner asked Congress on Tuesday for broad new powers to regulate nonbank financial companies like troubled insurer American International Group whose collapse could jeopardize the economy.

“AIG highlights broad failures of our financial system,�? Geithner told the House Financial Services Committee. “We must ensure that our country never faces this situation again.�?

At the same time, Federal Reserve Chairman Ben Bernanke revealed that he had considered filing suit to keep AIG from paying millions in executive bonuses but that his legal advisers counseled him against it.

Geithner acknowledged that the current climate of anger, including the furor over those retention bonuses, will complicate any effort by the Obama administration to get more bailout money from Congress. “We recognize it will be extraordinarily difficult,�? he said.

The administration sought to use that rancor to build support for its financial overhaul proposals.

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Treasury chief: Need more powers

What’s that Lassie?? You say Lil’ Timmy fell in the well?!?! Oh, good girl Lassie, good girl, have some doggie treats and let the stupid son of a bitch STAY in the well!!

Here is ALL you need to know about giving MORE POWER to a dingbat that’s placed in charge of the U.S. Treasury and he can’t even do his OWN income tax return.

GOP senators break from White House, oppose auto bailout

WASHINGTON (AP) — Top Republican senators said Sunday they will oppose a Democratic plan to bail out Detroit automakers, calling the U.S. industry a “dinosaur” whose “day of reckoning” is coming. Their opposition was a bit more stark than the position put forth Monday by the White House, and raised doubts about whether the plan will pass in this week’s postelection session.

Democratic leaders want to use $25 billion of the $700 billion financial industry bailout to help General Motors, Ford Motor Co. and Chrysler, while the White House stressed Monday that aid should not come from the rescue plan.

Sens. Richard Shelby of Alabama and Jon Kyl of Arizona also said it would be a mistake to use any of the Wall Street rescue money to prop up the automakers.

“Companies fail every day and others take their place. I think this is a road we should not go down,” said Shelby, the senior Republican on the Senate Banking, Housing and Urban Affairs Committee.

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GOP senators break from White House, oppose auto bailout

America is being turned into the biggest SOCIALIST nation on earth. Good job George Bush, nearly ALL Dems and ALL the RINOs.

Once upon a time bad business just went away, the American consumer didn’t buy the product and a company went bankrupt, and that was a good for ALL business, weeds out the losers and the only one that really got hurt was the guy that couldn’t run his business.

Today, bad management, corrupt business execs and thieving union officials rape a company blind, steal from the company and the consumer, bankrupt the business and cry to the MORON in the White House to “Oh please bail us out oh wise and powerful Moron in Chief, if you don’t, America is going to suffer, Americans will be hurt if WE don’t get our $20 MILLION dollar Christmas, uh, wait, $20 MILLION Winter Festival bonus!”

So, the Moron in Chief goes to all his *little morons* and tells em that they have to bilk the American taxpayer out of nearly 1 TRILLION dollars so all the bad businessmen, corrupt execs and thieving union hacks can be saved, thus saving the average American on the street from a fate worse than death.

I wonder?? Why can’t WE, the AMERICAN people get a bailout?? The average guy on the street kind of bail out?? Mom and Pop neighborhood store bailouts?? The ‘salt of the earth’ Americans?? I am guessing that if Wal-Mart called the Moron in Chief and said “Hey, we need money”, the Moron in Chief would hurt himself making sure that Wal-Mart gets ALL the money it needs.

And for what it’s worth, I can tell you how to trim $10 BILLION a month off of the U.S. expenditure list almost immediately, but that is another story…