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White House planning more auto financial aid

March 29th, 2009 . by TexasFred

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…

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