General Discussion

xchrom

(108,903 posts) Wed Feb 8, 2012, 10:43 AM Feb 2012

Bush on auto bailouts: 'I'd do it again'

http://bottomline.msnbc.msn.com/_news/2012/02/07/10342178-bush-on-auto-bailouts-id-do-it-again

It has become one of the rare things that binds the two men, the controversial automotive bailout that was begun by former President George W. Bush and completed by his successor, President Barack Obama.

The latter defended his actions during the recent state-of-the-union address, during which he declared “The U.S. auto industry is back.” His predecessor used a meeting of the nation’s auto dealers to defend his own actions, insisting he had no other choice but to completely sink the American economy.

“I’d do it again,” proclaimed Bush, speaking to the annual convention of the National Automobile Dealers Association.

The bailout, which ultimately totaled $85 billion, was originally begun during the waning days of the Bush administration. With a specific rescue effort rejected by Congress, the former Commander-in-Chief decided to tap into a separate, $700 billion fund Capitol Hill did approve for the bailout of Wall Street and the banking industry.

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Bush on auto bailouts: 'I'd do it again' (Original Post) xchrom Feb 2012 OP

Republicans ProSense Feb 2012 #1

This is SOOO damning. One of the few good decisions Bush made, and Repubs hate this rare success kysrsoze Feb 2012 #6

He whose name must not be spoken in RW circles rurallib Feb 2012 #2

There are only three Republican presidents they can mention: JaneQPublic Feb 2012 #3

So, should I like Bush or hate the bailouts? n/t Nuclear Unicorn Feb 2012 #4

To tell the truth.... WCGreen Feb 2012 #5

I think you're right. Poppy can be decidedly rational at times. They probably see these candidates kysrsoze Feb 2012 #7

Maybe he's trying to signal the Republicans that this is a losing issue for them. Ikonoklast Feb 2012 #8

ProSense

(116,464 posts)

1. Republicans

Reply to xchrom (Original post)

Wed Feb 8, 2012, 10:48 AM

Feb 2012

are taking the recovery of the auto industry hard. Bush did it too. It was all part of his last-minute efforts after screwing up the economy. From December 2008.

Bush Aids Detroit, but Hard Choices Wait for Obama

By DAVID E. SANGER, DAVID M. HERSZENHORN and BILL VLASIC

WASHINGTON — The emergency bailout of General Motors and Chrysler announced by President Bush on Friday gives the companies a few months to get their businesses in order, but hands off to President-elect Barack Obama the difficult political task of ruling on their future.

The plan pumps $13.4 billion by mid-January into the companies from the fund that Congress authorized to rescue the financial industry. But the two companies have until March 31 to produce a plan for long-term profitability, including concessions from unions, creditors, suppliers and dealers.

In February, another $4 billion will be available for G.M. if the rest of the $700 billion bailout package has been released.

Even before the March 31 deadline, it might fall to the Obama administration to persuade Congress to release the second $350 billion of the Treasury Department’s huge financial system stabilization program — a request that the Bush administration is reluctant to make.

- more -

http://www.nytimes.com/2008/12/20/business/20auto.html?pagewanted=all

kysrsoze

(6,025 posts)

6. This is SOOO damning. One of the few good decisions Bush made, and Repubs hate this rare success

Reply to ProSense (Reply #1)

Wed Feb 8, 2012, 11:25 AM

Feb 2012

Then they jump down the throat of Clint Eastwood (R) for saying something pro-American and horribly unoffensive. They continue to come off as un-American. Traitors, they are.

rurallib

(62,482 posts)

2. He whose name must not be spoken in RW circles

Reply to xchrom (Original post)

Wed Feb 8, 2012, 10:55 AM

Feb 2012

he was never president. And they have evidence he never even existed.

JaneQPublic

(7,113 posts)

3. There are only three Republican presidents they can mention:

Reply to rurallib (Reply #2)

Wed Feb 8, 2012, 11:13 AM

Feb 2012

Reagan
TR
Lincoln

Never mind the fact that each and every one of those three was far too liberal by today's GOPer standards.

Of course, it's understandable they never mention GWBush, GHWBush, Ford, Nixon, Hoover, Coolidge, etc., but you'd think they'd at least give Ike a nod once in a while.

Let's just hope that their unwillingness to mention any Bush names in their campaign talk means they won't give much thought to running a third in 2016.

Nuclear Unicorn

(19,497 posts)

4. So, should I like Bush or hate the bailouts? n/t

Reply to xchrom (Original post)

Wed Feb 8, 2012, 11:22 AM

Feb 2012

WCGreen

(45,558 posts)

5. To tell the truth....

Reply to xchrom (Original post)

Wed Feb 8, 2012, 11:22 AM

Feb 2012

I think this is the Bush familiy was to tell their minions that Mitt isn't it and that president Obama is just fine...

kysrsoze

(6,025 posts)

7. I think you're right. Poppy can be decidedly rational at times. They probably see these candidates

Reply to WCGreen (Reply #5)

Wed Feb 8, 2012, 11:27 AM

Feb 2012

taking the U.S. right over a cliff. They have significant investments which are at risk by electing one of these psycho-/sociopaths.

Ikonoklast

(23,973 posts)

8. Maybe he's trying to signal the Republicans that this is a losing issue for them.

Reply to WCGreen (Reply #5)

Wed Feb 8, 2012, 11:30 AM

Feb 2012

The vast majority of Americans see that the automaker bailout was a success, even though Republicans keep trying to tell them that it was a dismal failure.

That lie has no legs, and by sticking with it, it is making them look like idiots.

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