Monday, November 17, 2008

Obama pledges support for flailing auto industry

Barack Obama will support the Detroit calling a potential auto industry collapse "a disaster." However, the president-elect said the assistance "cant' be a blank check" either.

Saving Detroit, though, may be a difficult task. The industry has been ailing for some time and it continued to push big cars and SUVs in poor judgment and lack of vision for the future. Still there is a lot of pride and jobs tied into American automobile manufacturing.

A single payout is unlikely to work due to the current economic situation. So one really knows how much money it may take to get the "Big Three" back on their feet.

ABC News

Facing the Angry Ducks
Human Events, DC - 14 hours ago
Last week, both Speaker Pelosi and President-elect Obama said they want some undefined part of the $700 billion bailout to go to the automobile industry and ...
Pelosi outlines aid package for US automakers The Associated Press
Dems Attach Strings To Auto Bailout CBS News
The Bailout Blues: Taxpayers can't fix what's ailing auto

Washington Post

Obama: Auto industry collapse would be 'a disaster'
CNN - 22 hours ago
"It's my belief that we need to provide assistance to the auto industry," Obama tells veteran correspondent Steve Kroft, according to excerpts released by ...

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