Tuesday, November 11, 2008

Automobile Industry Bailout

Democratic aides say Speaker Nancy Pelosi intends to seek legislation to provide relief to the battered auto industry, and wants it done in a post-election session of Congress likely to convene in the next few days. Pelosi is not expected to specify how large a bailout she wants. The aides who described her views Tuesday did so on condition of anonymity, saying they were not authorized to discuss it publicly. The speaker's decision comes a few days after General Motors warned it is rapidly running out of cash, and Ford announced its situation was only slightly better.

ISF: I'm sorry, but I CANNOT feel sorry for the automobile industry. They've been screwing over the American people for years and now they want protection from the government? For what? They haven't made any improvements to their automobiles' mileage. The Ford Model T got 25 miles per gallon in 1908. My 1993 GEO Metro got 40-45. My 2007 Chevrolet Aveo gets 27. Am I the only one who sees something wrong with this picture? They have the capability to produce more efficient cars...yet they don't. If they're looking for a bailout, why not stick their hands out to the Oil Companies who are obviously already paying them to be fuel inefficient?

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