Bail Out The Auto Industry?

By Associated Press/ CBS News
.

Alabama Republican Senator Richard Shelby tells CBS's "Face The Nation" it's a mistake while Democratic Congressman Barney Frank supports the $25 billion bailout Bail Out The Auto Industry?
Published: Sun, November 16, 2008 - 11:40 am
WASHINGTON (AP) - A top Republican senator says he will fight a
Democratic plan to bail out U.S. automakers. The opposition by Sen.
Richard Shelby and other GOP lawmakers raises doubts about whether
the plan will pass in this week's postelection session.
Shelby is the top Republican on the Senate Banking, Housing and
Urban Affairs Committee. He says it would be a mistake to use any
of the $700 billion in the Wall Street rescue to help the
automakers survive the current crisis.
He calls the American auto industry a "dinosaur" and says a
federal bailout would only postpone its demise.
Democratic leaders want to use $25 billion to help General
Motors, Ford and Chrysler. But Democrats have only a narrow Senate
majority. Also, President George W. Bush also opposes the idea.

(Copyright 2008 by The Associated Press. All Rights Reserved.)

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sarahsarah, it was on the news this morning by the time you consider benefits it adds up to 71 dollars a hour, toyota is 43 dollars a hour. the rep was floored when confronted about the fact a lot of the bail out money would be used for pension money for those who have retired.

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Did I say Give to the big pork spenders? No way did I say that. I don’t feel the gov. should give you everything. I would love a new house. New car. Do I think they need to give me this money like you? Nope I’ll work and save for that new car. Funny you say rich and poor. O`bummer is not going to take from anyone with out a fight. O`bummer is not going to give you everything you need. O`bummer is not going to make your life better.

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If I made 71 an hour I would NOT need a bail out!!! And I don’t think they make that much any way. my brother in law worked for one company and only made 25 an hour and that was top pay!

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this is bail out for the union workers.  i had rather see them give everybody who works a 71 a hour bail out.  now that would help the economy.

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They would sell cars if people could afford them! Instead they just get more bonuses.  NO BAIL OUT!

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We do work and still we have a hard time making housepayments that keep going up, utilities that keep going up and groceries that again keep going up.  We have no car payments our cars are 10+ years old but we do have insurance that keeps going up. Our pay does not go up as fast as the above mentioned items do.  The corporate big shots have the money to pay everything that keeps going up but us little people dont but who cares apparently you dont! go ahead give YOUR part of the bail out to the Big Corporations I’d like to get just a portion so I can give my grandkids something for the HOLIDAYS!

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would you rather GIVE IT to the BIG CORPORATIONS? It sounds like you would rather it be take from the poor and give MORE to the Rich? That is what is going to happen and us little people are going to PAY for it AGAIN!  I am tired of paying for big corporations BOSSES taking VACATIONS when I have to work to keep my head half way above the making it mark!

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You call that PRIDE? Government hand outs. what happened to work for what you have?? You are whats wrong with this country give me give to ME. Wrong get off your duff and work for it.

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why not Bail out the little people???  Start at the bottom of the list, us regular US CITIZENS folks, send us the $$$$ and in turn we can payoff our mortgages (or buy a house), car loans(or buy a new car), student loans (or be able to go to college), and our credit cards (or get one)!  That would help out the ecomony BIG time and give PRIDE back to the citizens of the USA!

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General Motors has once again approached the federal government with its hand out. It should not be forgotten that in September of 2008, Congress gave the “big three” automakers a loan totaling $25 billion. Now they are back. This time they say that with a mere $50 billion they can turn things around and become profitable in the future. The management of GM and Ford as well as the UAW have been meeting with Nancy Pelosi to arrange a deal. GM claims that if the government does not give them the money they demand it will spell doom for the company and thus the entire US economy.

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