I’d say “He’s giving it to them”
But the truth is, he’s giving it to us. Right in the out hole.
General Motors Corp. and Chrysler LLC will get $13.4 billion in initial government loans to keep operating in exchange for substantially restructuring their businesses under a rescue plan announced by President George W. Bush.
The money will be drawn from the Troubled Asset Relief Program set up to bail out financial institutions. An additional $4 billion would be provided in February provided the second half of TARP’s authorized $700 billion is released by Congress. The funds would allow GM and Chrysler to keep operating until March.
Chrysler’s loan should be made to be paid in full by the end of the year by Ceberus. They are the parent company. If the parent won’t give the kids any money, why should the “Rich Uncle Taxpayer”?
As for GM, well, they haven’t listened to a thing I said so fuck them.
Never again will I buy one of their polished rolling turds. New or used.
Even with this prick’s tax incentive
A member of the U.S. House of Representatives believes the best way to provide relief to the beleaguered automobile industry is to stimulate demand with tax incentives for new car buyers. Representative Doug Lamborn (R-Colorado) on Thursday introduced a bill, HR 7298, that would allow motorists to deduct a portion of the purchase price of domestic vehicles on their income taxes.
…..
“HR 7298 would give a free market approach to addressing part of the auto industry’s problems,” Lamborn wrote in a letter to colleagues on Thursday.
How in the hell is a tax break “Free Market”? It is classic Keynesian bullshit.
Let them make a quality product that people want, or down the bankruptcy hole they go.
I swear that they must have an IQ limit to enter public office these days or something.
