blogs.abcnews.com/politicalradar/2008/11/pelosi-to-seek.html
Share November 11, 2008 4:26 PM ABC News' Jonathan Karl reports: House Speaker Nancy Pelosi says she'll seek assistance for Detroit automakers during a lame-duck session next week. The idea is to pass a bill opening up some of the $700 billion bailout money for the automakers. I am told Pelosi will also likely seek an extension of unemployment benefits but wait until January for a major stimulus package. "In order to prevent the failure of one or more of the major American automobile manufacturers, which would have a devastating impact on our economy, particularly on the men and women who work in that industry, Congress and the Bush Administration must take immediate action," reads a statement by Pelosi. "Emergency assistance to the automobile industry would be conditioned on executive compensation restrictions, a prohibition on golden parachutes, rigorous independent oversight, and other taxpayer protections to ensure that any companies that benefit from this assistance - and not the taxpayers - bear the full burden of repaying any costs that are incurred." And now Senate Majority Leader Harry Reid says he "determined" to pass legislation helping the automobile industry next week during a lame-duck session of Congress. Reid's statement offers no specifics and reminds us that until January "we still have the slimmest of majorities in the Senate; this will only get done if President Bush and Senate Republicans work with us." On that point: The White House is lukewarm to Pelosi's idea of using some of the $700 billion banking bailout money for the automobile industry. One senior White House official told me it's "a slippery slope" and asked rhetorically, "who's next?" The White House would prefer Congress pass legislation loosening the restriction on the $25 billion in loans Congress made available to Detroit in September. That money, under current law, must be used for fuel efficient technology. The auto industry says it needs money to stay alive, not to embark on new projects. "Why does Speaker Pelosi absolutely refuse to use the $25 billion actually appropriated for the automobile industry?" Answer: environmental groups don't want the money to be diverted. Meanwhile, the auto industry likes Pelosi's approach, but sees it as a stopgap measure until the new Congress passes something more comprehensive in January. As one auto industry source working with Congressional leaders told me, "We're talking about a bridge loan, a bridge to the stimulus."
Posted by: bhuddaflii | Nov 11, 2008 4:42:15 PM Bailout the auto industry, but you unemployed people must wait for your paultry checks! Posted by: Enough is Enough | Nov 11, 2008 4:46:06 PM THE AUTO INDUSTRY KNOW FROM THE 70 THAT THEY HAD TO PRODUCE FAR MORE EFFICIENT AUTOS--BUT GUESS WHAT --THEY DIDNT NOW INSTEAD OF PAYING FOR GAS GUZZLING MONSTERS WE ARE TO PAY THEM FOR NOTHING---LET THE MARKET TAKE ITS COURSE AND LET THE AUTO INDUSTRY PAY FOR THEIR MISTAKES--OR MAKE A COMEBACK BASED ON SOMETHING WE CAN AFFORD TO PAY FOR AND AFFORD TO DRIVE---MORE BIG BUSINESS BS. Posted by: rodney | Nov 11, 2008 4:46:17 PM I'm sick of her too but she is the boss now. Posted by: me | Nov 11, 2008 4:48:14 PM The porn industry is hurting as well. THey just want to be on the record as republicans standing against it. Posted by: jamie w | Nov 11, 2008 4:50:27 PM I AM NOT FOR BAILING OUT THE PORN INDUSTRY--LET THEM START OVER --FROM THE BOTTOM Posted by: rodney | Nov 11, 2008 4:53:24 PM I was surprised when I found out she is 68 years old. I guess we just wait how much longer she will stay in the Senate Posted by: catleya | Nov 11, 2008 4:55:01 PM It is not the auto industry who will hurt, it will be the 600,000 jobs lost in the United States if they fail. I say bail them out with the contracts to start building autos to fit our needs of today. Posted by: becky (the real one) | Nov 11, 2008 4:56:43 PM BECKY IF THE GAS PRICES STAY DOWN FOR A TIME WE WILL SEE THE SAME OLD GUZZELERS AS BEFORE-------THEY SHOULD HAVE BEEN MAKING A LINE OF SUPER EFFICIENT CARS FOR YEARS ---BUT REFUSED TO DO SO --MAY BE A CONNECTION TO BIG OIL. Posted by: rodney | Nov 11, 2008 4:59:51 PM No way, no how! I heard the porn industry is suffering from economic woes and needs a bailout too. Posted by: SteveJJ | Nov 11, 2008 5:01:20 PM VOLKESWAGON JETTA DIESEL 47 MILES PER GALLON----NONE IN STOCK MUST BE SPECIAL ORDERED --WONDER WHO IS RESPONSIBLE FOR THIS. Posted by: rodney | Nov 11, 2008 5:02:08 PM STEVEJJ THEY COULD START OVER BY HAND. Posted by: rodney | Nov 11, 2008 5:03:37 PM t Posted by: becky (the real one) | Nov 11, 2008 5:04:38 PM Bail them out? Posted by: Zfam | Nov 11, 2008 5:05:59 PM BECKY STOP LAUGHING. Posted by: rodney | Nov 11, 2008 5:06:05 PM Although it is easy to blame the auto industry, they are in trouble in part because they built the cars Americans wanted (SUVs, trucks, V8's) rather than the cars Americans needed (fuel-efficient cars). Are we going to bail out all the industries that have hundreds of thousands of workers who stand to lose their jobs? let's use my tax dollars, even though I am barely making it by, in order to help out Pelosi's special interests, all under the guise of helping out the average citizen. Posted by: whitney | Nov 11, 2008 5:06:56 PM 1 PERCENTER THEY COULD USE THE ESCALADE FOR A TANK. Posted by: rodney | Nov 11, 2008 5:07:49 PM Why the hell are we bailing anybody out? If we ran our houses the way some of these business do, we would not be able to keep a roof over our heads for 60 Days and the government would not lift a finger to help us! Yet time and time again we are pssing away money for what? In 1 years time they will be right where they are now and than what? Most people would be able to pay off their homes, and still have plenty left over to go out and spend! The whole idea about this bailout was to help out the Banks who made bad loans, so if that is the case give us the money let us pay off our homes which will put the banks whole again, and let us invest the balance into the economy! Stop giving our money to business that just dont give a crap about the amercian people! Posted by: Chuck | Nov 11, 2008 5:08:23 PM rodney: my future nephew works for GM, he is in Sweden for a year. He is a engine designer for them, he graduated two years ago from college. He is over there training them right now on how to build those economy ethanol engines. Makes my heart heavy to see GM pull out of the United States to do this. I just pray that our government can come up with something to help them stay. Posted by: becky (the real one) | Nov 11, 2008 5:08:53 PM Chuck: sounds great only the prices of everything would go up to meet your income. Milk is now $4 a gallon, it will more than double if everyone received that money. Posted by: becky (the real one) | Nov 11, 2008 5:11:03 PM TODAY IT IS THE AMERICAN WAY----BIG BUSINESS IS IN CONTROLL --WE ARE THE FOOLS THAT PAY FOR THEM. NOW BUSH WANTS A TRADE AGREEMENT WITH COLOMBIA --WHAT A TRAITOR TO THE AMERICAN PEOPLE. Posted by: rodney | Nov 11, 2008 5:11:39 PM It might help if you Democrats understood what your party is about before you elected all these clowns. Bailout after bailout after bailout after bailout - How about a major stimulus too - Oh, extend unemployment payments to! At some point you'll figure out who PAYS for this - It's the middle class! THEY ARE IN CONTROLL OF OUR GOVERNMENT/ Posted by: rodney | Nov 11, 2008 5:15:17 PM I wasn't for bailing out the banks and I'm not for bailing out these guys. They lived high on the hog for years, along with the unions, and now they want to suck us US taxpayers dry? While different than a loan, bailout or band-aid, it would get badly needed sales revenue to the Big 3, keep people employed (and paying taxes), and reward taxpayers/buyers who want to be a part of the economic solution. This could help get the economy and the Big Three back on their wheels. A focused tax credit would provide an incentive to buyers that would otherwise buy vehicles produced elsewhere and who would otherwise not be directly influenced by federal aid to the Big Three. I believe that if you help create and maintain jobs the rest o...
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