As GM Goes, So Goes the GOP /Pat Buchanan

Subject: As GM Goes, So Goes the GOP /Pat Buchanan Wed Nov 19, 2008 2:06 am

http://www.humanevents.com/article.php?id=29531

Number of posts : 2156 Location : Arizona Registration date : 2008-11-18

Giving 700 billion dollars to the banks and the auto manufacturers is like

Give us the public the 700 billion and we'll spend it which will create more jobs and help the economy a lot more than Detroit will. Or better yet, reduce taxes so we can spend the money before Washington gets their hands on it and gives it to their friends.

Here's another article from The NY Times about the big three.......
http://www.nytimes.com/2008/11/19/opinion/19romney.html?_r=2&oref=slogin

Admin Number of posts : 385 Registration date : 2008-11-13

As GM Goes, So Goes the GOP /Pat Buchanan Dead

Let GM go under, they go through $5billion/month. What is another $10billlion going to do?

*General Motors Corp. CEO Rick Wagoner told the House Financial Services Committee that collapse of the U.S. auto industry could lead to a loss of 3 million jobs within the first year and ripple throughout communities around the nation.

In sometimes contentious testimony, Wagoner was pressed on when GM would run out of money if the loans weren't extended.

He said he couldn't say precisely, but that the company now was burning through "$5 billion each month."

Still, with the $25 billion emergency package, "We think we have a good shot to make it through this," Wagoner said. He said he anticipated that, if the package is approved, GM would qualify for about $10 billion to $12 billion of the money.*