Detroit Bailout Looks Unlikely
The chief executives of the Big Three American car companies head to Washington Tuesday along with the head of the United Auto Workers to beg Congress for a bailout that seems less and less probable.
The chief executives of the Big Three American car companies head to Washington Tuesday along with the head of the United Auto Workers to beg Congress for a bailout that seems less and less probable.
Lawmakers are loathe to head back to the bottomless piggy bank, while the White House refuses to slide down the “slippery slope” of letting just anyone take a chunk of that $700 billion.
Your support is crucial…The Guardian:
Although GM has warned that its cash shortage could lead to insolvency by Christmas if Congress does not approve the funding, the outgoing administration of George W Bush firmly opposes providing a loan through the $700bn financial bail-out approved last month.
“There’s not an appetite in Congress, or in the administration, to open up the [bailout] funding for individual industries,” White House spokeswoman Dana Perino said [Monday]. “Once you start down that road, it’s a slippery slope.”
With an uncertain future and a new administration casting doubt on press freedoms, the danger is clear: The truth is at risk.
Now is the time to give. Your tax-deductible support allows us to dig deeper, delivering fearless investigative reporting and analysis that exposes what’s really happening — without compromise.
Stand with our courageous journalists. Donate today to protect a free press, uphold democracy and unearth untold stories.
Labor
The first-of-its-kind victory at the Chattanooga Volkswagen factory proves autoworkers in the South are beginning to see the value in unionizing their place of work.
The offer includes "major gains" for workers who have been picketing at U.S. factories for a month, United Auto Workers officials say.
A bitter standoff over fuel efficiency has been threatening to unleash years of court fights and confusion in the U.S. auto industry.
The Truthdig columnist goes to Anderson, Ind., to witness the impact of the flight of General Motors jobs.
Director Kathryn Bigelow turns the tragic events of July 1967 in Detroit into a tense suspense film.
You need to be a supporter to comment.
There are currently no responses to this article.
Be the first to respond.