From the consequences of their insane labor contracts with Big Auto:
House Speaker Nancy Pelosi and Senate Majority Leader Harry Reid sent to send a letter to Treasury Secretary Henry Paulson urging him to assist the Big Three auto makers by considering broadening the $700 billion Troubled Asset Relief Program to help the troubled industry.
The two top Democratic leaders in Congress are likely to make the request in a letter to the White House, which could be forwarded as soon as Saturday afternoon, said individuals familiar with the matter. President-elect Barack Obama is generally supportive of the appeal, but at the moment is moving on his own track to assist the industry, these individuals said.
Mr. Obama is scheduled to meet with President George W. Bush at the White House Monday.
The White House has been reluctant to broaden use of the $700 billion program, which was created by Congress just ahead of the election to deal improve credit flows and calm turmoil in financial markets incited by the downturn in the housing economy.
“It was not set up for anything else,” said Bush spokesman Tony Fratto, noting the only assistance authorized by Congress for the auto industry is a $25 billion loan package meant to help the industry retool to meet higher fuel economy standards.
Democrats are worried that if the auto industry is forced to deal with economic reality it will result in fewer union members and thus less union swag for Democratic political campaigns – so, they want to bail out Big Auto and thus prevent any change to the way auto manufacturers do business. Now, don’t get me wrong here – Big Auto, at least its American component, appears to be the usual mush of corporate pinheads who, even with 12 million unit sales expected this year, have managed to run their cash machine up on the rocks. It isn’t hard to sell a car in America, ya know? Its not like they don’t have people knocking on their doors asking for their product, even if its a relatively crappy product which is over-priced and not fuel-efficient (I do like my Malibu Max, and thus I understand that GM is discontinuing the model…). Don’t anyone get the idea that I have any sympathy for the faceless blob corporations of the United States – devices to hide incompetence, that’s all they are…smaller is better, and if we can figure out a way to break up these big corporations without adversely effecting the free market, then I’m all for it.
Anyways – this is what we can expect from our Democrats; using taxpayer dollars to protect their electoral base. It doesn’t matter that the UAW and the corporations have made it almost impossible for our auto companies to swiftly react to changing market conditions, the only thing that matters to Democrats is the next election, and they want a lot of donations and no major union job losses, regardless of cost to the taxpayer and larger economy. This is what “hopenchange” really means, liberals – more corporate greed, union corruption and Democratic backscratching…