I don’t often hear about my state’s senators, and when I do, I don’t often agree with them because they’re staunch conservatives and I’m pretty liberal. However, when scanning Google News this morning, I found the New York Times article “Auto Bailout Bill Appears Stalled in the Senate.” The article has completely changed since earlier this afternoon, which is annoying, especially because I can’t find any past revisions on the New York Times’ site. However, it says essentially the same thing:
The prospects of the Senate approving the same auto rescue plan that was passed by the House on Wednesday night evaporated earlier in the day when the Republican leader, Senator Mitch McConnell of Kentucky, gave a floor speech in which he sharply criticized the measure.
Mr. McConnell said his colleagues would not back that plan despite the urgings of the White House, which had negotiated the legislation with Congressional Democrats.
“A lot of struggling Americans are wondering where their bailout is,” Mr. McConnell said. He voiced support of the alternative plan developed by Mr. Corker.
That proposal would impose even tougher requirements on the automakers than the bill approved by the House, and it would mandate the auto czar overseeing the rescue plan for the federal government to force the companies into bankruptcy should they fail to meet those requirements.
— Auto Bailout Bill Appears Stalled in the Senate as of 6:22 pm EST
I’m not keen on any kind of bailout happening here, but it’s nice that McConnell is at least against the bailout in its current form.
Here’s how the article began this afternoon (I saved this excerpt in an email I sent, excited about the news):
The prospects of a $14 billion government rescue of the American auto industry seemed to vaporize on Thursday morning as the Senate Republican leader, Mitch McConnell of Kentucky, spoke out forcefully against the bill, effectively dooming its chances despite the urgings of the White House.
— Auto Bailout Bill Appears Stalled in the Senate as of 1:34 pm EST
So, I don’t know a lot about the whole bailout plan stuff, but think about all the jobs that people are losing if these companies do go under. People are losing jobs already at an alarming rate because of today’s economy and this is only going to make things worse.
Now! Like I said before, I don’t know a lot about all of this. I’m simply thinking of those people who may no longer have a job to support their families. That’s all I’m saying…. :)