From: Travis Subject: Caglepost: Congress Crashes Car Companies Date: Tuesday, December 9, 2008,
[image: THE CAGLE POST] <http://caglepost.com/> Would you like to reprint our cartoons on your site or in your publication? It's easy! Visit us here <http://politicalcartoons.com/>. * <http://caglepost.com/ticker.aspx>* Cartoon by Jim Day <http://cagle.com/politicalcartoons/PCcartoons/day.asp> Comment on the cartoon<http://caglepost.com/cartoon.aspx?id=7611598E-1BC3-4120-9AC9-F806A2C1611A> We have a great collection of cartoons called "Big 3 Bailout" LOOK!<http://cagle.com/news/Big3Bailout> *Congress On The Auto Companies: A Class Act*<http://www.caglepost.com/column/Jesse+Jackson/8833/Congress+On+The+Auto+Companies+A+Class+Act.html> by Jesse Jackson <http://www.caglepost.com/c/42/Jesse+Jackson.html> - Comment on the column<http://www.caglepost.com/column/Jesse+Jackson/8833/Congress+On+The+Auto+Companies+A+Class+Act.html> General Motors and Chrysler verge on bankruptcy. Literally millions of jobs across America -- auto workers, parts makers, dealers, suppliers -- are at risk. Bankruptcy would be a body blow to an economy that is already in trouble. Yet, the Congress and the president are making political points rather than making sense. After getting scorned last month, auto executives returned to Washington with comprehensive plans on downsizing the companies and moving to fuel-efficient vehicles. The autoworkers announced truly brutal sacrifices on wages and benefits. The CEOs agreed to work for a buck a year and drove to Washington to display the public modesty the Congress demanded. And still the Congress balked. Does this make sense? The auto companies are asking for a bridge loan of $38 billion to stave off the effects of an economic downturn that is soon to be the worst since the Great Depression. $38 billion is a lot of money. But consider: the Federal Reserve and the Treasury Department have pumped out over $8 trillion (that's trillion with a "t") in loan guarantees, debt swaps and direct capital infusions into propping up otherwise bankrupt banks and investment houses. The vast bulk of this was done without any vote or discussion in Congress. If Treasury Secretary Paulson had agreed to pay for the bridge loan out of the $700 billion Congress gave him to spend essentially at his will to save the economy, no one would have blinked. Instead we witness a lot of posturing -- much of it by Senators from states that have handed over massive subsidies to entice non-union foreign automakers to set up shop. Multimillionaire bankers weren't asked to give back the millions they pocketed in the irresponsible speculation that drove the ... *READ MORE<http://www.caglepost.com/column/Jesse+Jackson/8833/Congress+On+The+Auto+Companies+A+Class+Act.html> * *OUR NEW BOOK IS OUT! * <http://caglebook.com/> Follow Daryl each day on Twitter at: twitter.com/dcagle<http://twitter.com/dcagle> [image: Visit the newest cartoons by all of our cartoonists!]<http://caglepost.com/ticker.aspx> ------------------------------ *TO UNSUBSCRIBE (Do Not Reply): email [EMAIL PROTECTED] or CLICK HERE<http://list.caglepost.com/unsubscribe.aspx> . Copyright Cagle Cartoons Inc, Columns and cartoons copyright the respective cartoonists and columnists. All Rights Reserved.* -- *~@):~{> --~--~---------~--~----~------------~-------~--~----~ Thanks for being part of "PoliticalForum" at Google Groups. For options & help see http://groups.google.com/group/PoliticalForum * Visit our other community at http://www.PoliticalForum.com/ * It's active and moderated. Register and vote in our polls. * Read the latest breaking news, and more. -~----------~----~----~----~------~----~------~--~---
