CNN

one way or another tax money will be involved. give a loan or pay unemployment, welfare to the millions of people out of work. no one said anything when trillions was thrown at wall street. all of you who think these auto workers make too much and want them to lose their jobs, i hope u lose yours. i work in health care and it will only be months before health insurance runs out and we will feel it from lowered admissions. everyone will feel it. health care preimums will go up and we will all pay!!!!!!!!!!!!!!!!!!!!!!!!!

Yay!! More wasted money...yay! Bailout the doltish labor unions!!!

To Pat:

I wouldn't call what I feel about the bush administration hate, I would call it sheer disgust.

This so called commander of our US military placed our young military personnel in harm's way all because of deceit and ignorance.

Over 4200 of our troops are dead because of a lie! Cheney proudly proclaims that he authorized torture, which further harm our soliders, but we are supposed to forgive and forget because they are leaving office. I don't think so. The whole lot of them should he brought up on charges, not swept under a rug. I am being a voice for those who have lost their own.

SHUT UP YOU MEAT HEAD INEPT, INCOMPETENT, SELF CENTERED MORON.GO BACK TO TEXAS AND LEAVE US PLEASE JUST LEAVE US.

I expected Bush to finally do something right, but nope he failed again.

People have been saying what the govt's actual job is. Can anyone tell me exactly what it is? I was under the impression that it was to server it's citizens. I know that's a broad statement, but I think this falls under that.

All of you screaming about spending this money now should look at the future picutre of spending it later in unemployment, welfare, etc.

I live in Ohio and they are already extending the X-mas break for an additional 2 weeks in most plants around here. Lay offs are expected in many folks paychecks as we speak.

Next car buy foreign-Toyota, Honda. Not U.S.

You go Georgie, as far away as possible!!!

I CAN HAZ BAILOUT TOO?

Hey, All you Bush bashers. All of you who are slamming George for giving the bailout money away,,,,

Obama just came out and PRAISED the money Bush is giving, saying it is great.

So ,, what makes Obama any better?

i am a 50something production worker raising a family, am i to understand that my tax money will be used to pay pension and health care for retired auto workers younger than i am, please dont tell me that

Bush should be impeached for this kind of socialistic maddness!!

Look at that picture,talk about the proverbial"deer caught in the headlights"look.It's o.k. Shrub,only four weeks until it's all somebody elses' problem.

December 19th, 2008 11:10 am ET
Your comment is awaiting moderation.
How loud would you cry if it was your job in question? I will bet loud and clear and at such a fever pitch that all could hear. What do you all not understand about a bridge loan? The entire concept would be my guess. Many a corporation in this country has operated on the premis that if the next quarter can look good than all is OK. To do this they have rolled over their short term debt into a new term over and over for years. Due to the fact that the financial industry has screwed the pooch that option is now not availiable. They have been given the money so that they would perform their functions in the financial industry. Have they? hard to tell. They have continued to pay divi and bonus so where is your outrage about that? You all need to wake up and realize that things are WAY worse than you think and that your moronic conservative ideals have been proven as falicy. As a matter of fact thats what got us where we are now. Nothing but low information morons who spend their time in the echo chamber of right wing hate radio would be my guess. FOOLS and TOOLS the lot of you!!

i think pres bush did a good thing on this we need the big 3 and auto workers need jobs now its time for these companies to get real and become profit machines but we as taxpayers need a bailout to the govt should put in place safeguards for all consumers who are facing or have faced repos or foreclosures its not the avg american fault when they loose their job due to this economy

Again, $700 billion to the banks and insurance companies and not one question about what they are going to do with it. Yet, some people can't stand to see 2 auto companies get 13.4 billion to save millions of jobs. Where is all the anger against the financial segment of our economy? They steal us blind and not one peep out of the anti auto loan people about that.

He never saw corporate welfare he didn't like. What ever happened to the corporate boot straps? With a fight between the UAW and Republicans in Congress, there was a no-win situation going on. Neither can see shades of gray – only black and white. Bush had to step in and save the arrogant and out of touch CEO's and union officials so that they can keep on keeping on.

Well that is a good thing for a lot of people that would be unemployed. I really don't understand those who say the workers make too much money and there benefits are out of line. Yes, they make more than the average worker and in case you haven't noticed, the average worker is not making it. Instead of trying to bring the auto workers down maybe we should be trying to bring the average worker up.

Why don't people understand that this had to happen? The auto industry just could not be allowed to fail. Why do Americans think it is okay for other Americans to just be out of a job? That's just crazy. I understand if you don't like unions, I don't care for them much either. I defintiely feel the unions and Big 3 both need big changes; but it hurts my heart to see Americans say that their fellow countrymen deserve to be jobless. What happened to patriotism? Furthermore this only once again showed how stupid most Americans are. If the auto industry failed people think only auto industry people would lose their jobs? How can you figure that one of the biggest industries in our country going under would not have a ripple effect through our economy? What about steel producers? Then truckers? Then advertising? Most of you geniuses don't realize most advertising business comes from the auto industry. Wake up people! Ignorance is so dangerous!

Is there no LEGAL way to stop Bush on this bail out of the UAW? If the President DOES have this kind of power and authority, the Constitution should be changed. If the Congress says No on an issue, yet, the President has the power to do it anyway, where are the "checks and balances" we are supposed to have? If this is the way it is, why not just eliminate the House and the Senate, save all that money , and let King Bush or King Obama make all the decisions?

So, does this mean that if we have filed bankruptcy, the automakers will extend us a loan for a vehicle? Or..if we should fall behind on payments, they won't come jerk the car out from beneath us? I think not. Once again, big business benefits and the common man gets the shaft. From now on, I'll take the easy credit offers on foreign cars. I have never driven anything but an American made vehicle but I can't get a loan for one now. But...my tax dollars are bailing those bums out. Doncha just love America?

yes sir vote republican

So what exactly happens to all this taxpayer money for this loan if they go under before it is paid back? Its going to come out of taxpayers pockets so we get screwed twice.

This country can't keep on running this way. People need to understand that contrary to what the government says, there isn't an infinite supply of money. We are more than 10 TRILLION in debt to countries that HATE US! Now, we are giving money to businesses that have been run into the ground just like our 'leaders' have done to our country. There is no money left in the public treasury but people don't care. They keep voting more favors from that same bankrupt treasury. Having money, houses, cars, big screen televisions, etc. are a privelege, not a birthright.

We need to elect people that honestly care about the future of the country instead of petty 'social' issues that our founding fathers though had no place in government.

Wow, I think I wil go out and buy a car made by Chrysler or Gm, NOT!

Start at the top and work down. Get rid of waste and inflated salaries. Not a penny for any raises until every penny is payed back.

There are laws in place to deal with the GM/Chrysler issue - they should file for Chapter 11 like (most) every other business has had to do (unless that business is "connected"). Where were the airline bailouts? What not bail out ALL the financial institutions, instead of saving some and allowing others to fall.

The government has no business being "in business" ... it's not the job of government to run business ... especially when they can't even do the jobs for which they were elected or appointed to.

I would think if we looked up the word "stupid" in the dictionary Pres. Bush's picture would be right there.

What a sad commentary for each and every paycheck to paycheck member of this world.Yet another stinging slap in the face as all of the financial concern and help for that matter goes to the top.G.M.,Chrysler,A.I.G.,Citigroup and the myriad of other upstanding corporate or Wall Street titans bailed out with your money and none of it has done any of those in the greatest need a lick of good. Just watch and take note from this day forward what the job loss count will be for these corporate exemplars post bailout ,mark the huge increases in foreclosures nation wide and if you witness or know first hand of banks or other lending institutions who actually lend before paying dividends or making acquisitions,take a picture.What these boneheads don't seem to care to understand is that it will not ever matter how much you kick in if the rest of us slugs can't get or afford to get what they're "pluggin" and I'm afraid that is how it's going to be for some time to come.So in the interim it might be prudent for your chief business gurus and theirs to re visit Economics 101.

Keep on tossing bad money (borrowed from Japan, China, Venezuela, etc.) after bad. If bush supports this deal, there must be something inherently wrong with it.

I guess after sitting on his thumb in a drunken stupor the past few weeks, he killed the final beer in the fridge, decided to clean himself up and act like he knows what's going on.

STUPID! These idiots ALL did it to themsel ves. Producing big gas guzzling monstrosities that were then bought by lunkheads. These things guzzled so much gas that it drove the price of gas through the roof for the rest of us. Execs getting paid millions and millions and UAW workers demanding pay and benefits that most the rest of us wouldn't get in a million years. Then the Government gives them billions as a reward???? STUPID!!! I hope they all go under anyway.

Yea, spend more of our money that we don't have. That's ok, the illegal Federal Reserve will just print what we need and devalue the dollar further. Sounds like a good plan.

If you cant beat the Socialist join them http://www.thenoz.wordpress.com

GET THAT GREAT GM FEELING... WITH GENUINE GM PARTS!

Gotta love all the people who expect the government to hand them money. This isn't what America is about.

Where is out bailout? We are losing our houses. We can't afford to eat. Yet..... You just bailed out companies that are not running their business properly. Look at Toyota's sales figures and compare to GM. Look at number of vehicles sold vs $$ coming in. There is something not right here. Not right at all.

I'm afraid Bush just made his last big hurrah and in the end, we are going to suffer for many, many years because of this unjust spending of money the US does not have. I am absolutely distraught!

If you can afford to purchase a car or have good enough credit to do so, raise your hand....1,....2,....

Where is the union Christams party??????????? Should be a really good one now!!!!!!!
You are all a bunch of crooks and deserve to be JOBLESS!

Another fine example of: WHO IS JOHN GALT?

Mr President, I backed you up on a lot of your decision over the past 8 years, even when it was unpopular. But bailing out Socialist disruptive Unions (which is what this bailout is really about) I cannot in good conscience give you my support. No money should be given to car companies until unions make major concessions. And just think Obama want to strenghten the unions, God help us.

CARS ARE NOT A PRIORITY. Jobs, healthcare and food are the priority!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! No body has money to purchase a car. No body has good credit to purchase a car. What are these people thinking. They are so NOT in tune with the needs of Americans.

Ok, here is what is funny.

You have people on here calling bush every name in the book because he is doing this.
What about Pelosi? She wanted to give the Big three a blank check. Along with how many other Democrats?

So you call Bush stupid, but yet it was the Democrats who have pushed the hardest for this thing.
The Repubs said no.

It is not the Auto makers we will bail out, it is the UAW.

For you facts are facts, no the workers should not take a pay cut. But they also should not get the perks they get. I have to pay for my insurance, health care, and if I were to get laid off, there is no job bank for me.
I know of people who work for GM who get paid 40 hours a week just to sit in the lunch room where they work in CASE someone calls off.
That needs to stop, and the UAW did it. They have bargained thier members right into bankruptcy.

This was a good plan to allow Republicans in Congress to stick with their mantra of "government cannot help you." Bush takes the heat and all Republican congressmen can go home with saved face. We can give money to every country in the world and even rebuild nations after we unilaterally spend gazillions to tear them down, but we cannot help our own if we are in trouble. The reason the auto industry is in trouble is because they were shortsighted and irresponsible toward our planet. I imagine the Bush will mirror that attitude and give them the money with no strings attached. There is no reason to believe that the Bush administration will be concerned about the planet.

President Good-for-Nothing has "saved" the auto industry in the same way Billo the Clown claims to have "saved" Christmas.
Both need to shut up and go away.

Well, not big on bailing out anyone, but I feel better about this one than anything done for the financial sectors.

I do agree with the one poster who says we should recall any monies given to banks that have not yet re-established lines of credit. that was part of the deal....

Which does bring up an interesting point. What stipulations do banks put buisnesses under in order to get a loan? Outside of some contractual BS, the only stipulation is that the buisness pay the money back. They do want to see a buisness plan, or some means of providing evidence that this buisness should turn a profit, and therefore be able to repay the loan. That, in essence, should be the only stipulations necessary.

The loan will help stabilize the auto industry, but I would like to see a full account on how this money is spent and what if any restrictions and requirements are placed on this and any subsequent loans. Mr. Bush did the right thing here, thus, I give him credit for stepping up in the face of his own party's opposition.

I am sick and tired of hearing Americans complaining about "high" taxes. You have some of the lowest taxes in the world and you still complain that you are paying to much. Here in Canada we pay much higher taxes and are better off for it. We have a much longer life expectancy thanks to our free health care (payed for with tax money) and our banks don't go out of business because we also have regulations. It was just announced that Canadian banks are the most secure in the world.

once again, most people don't want this but the government doesn't listen. Maybe it is time for a revolution to stop this injustice.

And how many more billions will we waste propping up these failed business models before finally throwing our hands up and letting free enterprise take over again!?

Bailouts are Bush's greatest failure..

what do you mean, "viable" they simply cannot be viable......
There are way too many auto plants that are making autos in the south
and they are hiring.....Any state below the mason-dixon line is currently hiring, and there is no recession here.
Carolinas – furniture factories / and R.J.Reynolds Tobacco Company is hiring....not to mention that there is 8 states that build autos down here, that are currently hiring.
Larry
Houston, Texas

I know this will not make me any friends in here, but can;t we stop harpng on Mr. Bush and this bailout? Give it a chance. Maybe everyone has learned a lesson and will be more responsible in the future. To Mr. Bush...you were an idiot in some of your decisions,,,you were right in others, but I think you tried to do the best with what you had. I am looking forward to Mr. Obama taking office and know the future will be brighter. Remember a quote from our founding fathers, "We must all hang together or we shall surly hang seperately." Let's try to be what they intended us to be..not Northerners, Southerners, Westerners, Democrates, Republicans but AMERICANS. WW II showed us what we can do when we work together for a common cause. Then we worked for the world now lets do it for ourselves!!!!

What's another $13.4B to add to your legacy of traitorous actions. Hey Georgie, wanna see your legacy??? My neighbors are postng signs selling their personal items this morning before heading to the unemployment office, what a legacy!!!

How loud would you cry if it was your job in question? I will bet loud and clear and at such a fever pitch that all could hear. What do you all not understand about a bridge loan? The entire concept would be my guess. Many a corporation in this country has operated on the premis that if the next quarter can look good than all is OK. To do this they have rolled over their short term debt into a new term over and over for years. Due to the fact that the financial industry has screwed the pooch that option is now not availiable. They have been given the money so that they would perform their functions in the financial industry. Have they? hard to tell. They have continued to pay divi and bonus so where is your outrage about that? You all need to wake up and realize that things are WAY worse than you think and that your moronic conservative ideals have been proven as falicy. As a matter of fact thats what got us where we are now. Nothing but low information morons who spend their time in the echo chamber of right wing hate radio would be my guess. FOOLS and TOOLS the lot of you!!

I just sat here and listened to the CEO of GM thank Bush and everyone else in the world for this HUGE bailout. Yes, he thanked EVERYONE....EXCEPT US...the taxpayers. We are the ones who will have to pay all this money back...us..our children and THEIR children will be paying this debt back for generations. Don't you think WE deserve a thank you from ANNYONE???

The idiot from TX gave billions to big banks so lending would open up – the banks are hoarding the money.

The idiot from TX has spent billions on an illegal war to help with infrastructure and health care for that country – they are hoarding their money.

The idiot from TX now gives more to car industries knowing people are losing jobs and cannot get loans from the banks to buy cars – the top people will get their bonuses.

WHEN WILL THE IDIOCY END?

Quite frankly I can't see the big 2 being able to come up with plans within 3 months to make them viable, competitive and making 'green' cars, especially GM, and as we all know, if they don't, the money has to be paid back.

Unfortunately, regardless of this short term loan, this might possibly lead to chapter 11anyway.

It sure is a pity that Congress didn't put as many restrictions on Wall Street. If they had we wouldn't be seeing the crap that AIG and others are still pulling.

HA! HA! HA!
THIS AUTO BAILOUT IS A JOKE. I WOULD THINK THAT MR. BUSH WOULD WANT TO LEAVE THE WHITE HOUSE WITH A LITTLE DIGNITY, AND HELP THE PEOPLE; THE PEOPLE WHO LOST THEIR HOMES; THE PEOPLE THAT LOST THEIR JOBS. THAT 14 BILLION COULD HAVE WENT INTO PRODUCING MORE JOBS, SO THE PEOPLE COULD BUY MORE CARS. LET THESE AUTO PLACES CLOSE DOWN FOR AWHILE, PEOPLE CAN'T AFFORD CARS ANYWAY.
WE ARE IN A CRISIS AND THE PEOPLE ARE WORRIED ABOUT MAKING MORE CARS, WHOSE IS PRAYING AT THE INAURGUATION, AND IMPEACHING BLAGOJEVICH, WHEN BUSH SHOULD HAVE BEEN IMPEACHED A LONG TIME AGO.

you can thank the repulitards for this ... moron president, and the greedy, selfish, vindictive, partisan senators that nixed the original fix ...

Am relieved to see there will be an auto industry bail out. Our country would not have survived the addition of millions lost jobs and thousands of businesses going under. There was mismanagement and mistakes, but is pale as to what the financial insitutions have done and are continuing to do.People cannot buy cars or anything because the banks are refusing to give loans. Perks, criminal salaries and bonuses are going on as usual and our government is letting them. They are doing whatever they want with our taxpayer dollars. How is this being allowed to happen? And, when are our politicians going to unite and do what is best for our country?

Happily Independant

A well thought out and presented discussion and one I can almost completely agree on. The one area of disagreement I have is you placing a large portion of the blame on the UAW.

The price of a car, built in America by the UAW, has 10% added to it to cover wages and compensations for the workers. The price of a car, built in Japan, has 9% added to it for wages and compensation to workers. The price of a car, built in America by non-union worker, has 8% added to the cost for wages and compensation for the workers. (by workers I am referring to the hourly people) the cost for mid level salary workers for American Union plants add 8%, Japanese-10%, American non-Union 8%. For senior salaried workers American Union 14%, Japanese 7%, American non union 8%. (U.S. Bureau of Statistics). Based on these numbers the UNIONS are not the cause but the upper management is. So why were we askign for concessions from unions but not the upper management? Simple by busting the union upper management and investors can put more in their pocket and the little guy, the salary worker loses out. After all this is the country that has a minimum wage that we do not have to pay hourly workers (ask any waitress or service person) but hey unions are the cause of all our problems right?.. riiiggghhhttt

So, the money was supposed to save people's homes but we're not sure what the banks did with it, and now the rest is going to the auto companies? This is a plan?

from groundzero (GM Complex in Lordstown, OH) hit by this economic terrorism: Thank You God!

Wakeup people this is a race to the bottom.The big boys want every working American to make minimum wage.

Didn't Ron Paul predict all of this during the primaries in 2007?

I WANT MINE!!! Should start by fogiving Stafford Loans hehe

What lesson is being learned here? Run a company into the ground and someone will bail you out. This is garbage and we're just postponing an even bigger collapse. Thank you President Bush. The only nice thing I can say about Bush is that he's consistent and predictable.

I applaud President Bush for throwing a life line to the auto industry to at least postpone bankruptcy filings at GM and Chrysler. I do not think the President had much choice. But this should be the last penny they see until a total reorganization occurs at both companies, and this might require an organized and well planned bankruptcy filing. The leadership at GM and Chrysler need to start planning now for the ineveitable bankruptcy. The UAW ought to be making plans to totally reorganize or simply disband all together.

probably has the cart before the horse; why not send every taxpayer a $10,000.00 check, with the proviso, they purchase a new American car in the next 90 days, that will accomplish a profit for the industry, while reducing their inventories, while creating work for the service secture..too easy right?

proud army navy mom December 19th, 2008 9:58 am ET
George W should he facing criminal charges for war crimes instead of trying to act like a president. Anybody got a shoe!
____________________________

Lady, you sure know how to HATE! Comes thru in all your comments in all the tickers! Want to feel better? Do something for somebody, quick!

He did what had to be done, and lets face it, what Obama wanted done.

I feel if this was 1/21/09, all the Bush haters would be praising Messiah Obama.

As far as the four weeks the factories will be closed, employees are able to use unused vacation OR they can collect unemployment which for them will be about 85% of their pay.

Nelson,
The shutdowns are basicly extened for 2 weeks, as they were planned for a shut down of 2 weeks ( more or less) anyway. These shutdowns come evry year at this time. The nedia did not report this correctly.

Bush is finally doing the correct thing, why did he have to do it so late in his administration, well I guess to improve his legacy.

So why was it alright to give 700 BILLION to wall street with NO CONCESSIONS by those making millions a year but we must demand concessions from auto workers making over 100 times less? This was blocked in the Senate simply as a union busting move by republican senators who have foreign auto makers in their states, non union plants, by republican senators who give money (in the form of tax breaks and reduced electrical usage fees) to these dsame companies. So what they are saying is they will subsidise FOREIGN automakers while they punish American automakers.

Seems the republicans are not concerned about American companies but only about busting the unions. typical give money to managers take money from workers!

At least bush broke down and took the money from the 700 BILLION he has already stolen from us taxpayers!

This is great. Now I hope that congress tells Bush and Paulson to relax and have a nice Christmas and New Year, go home for the holidays, and NO WAY will they release the other half of the 700billion bailout. Save it for the next president.

The bridge loan had to happen. Yes, there are a lot of problems that need attention. One of those problems being, removing top and mid-level managers who had the responsibility of making the decisions that put the big three in this position. The position of producing bad quality at high prices and burns tons of fuel. The American people helped by demanding these large wasteful ego machines. Anyway, it is very disappointing to hear Americans supporting the down fall of American Automakers. I personally believe its an issue of education or lack thereof, that has so many people stuck on stupid and not have the first clue of the ramifications of one of the big three failing. Please find a local economist at a local university and ask them what would happen in the wake of a GM failure. I promise you...you will not like the results. People……. a Joe six-pack or a Joe the Plumber attitude is not helping.

Now what are we going to do when milk costs $8 a gallon because of all the money we just printed?

How loud would you cry if it was your job in question? I will bet loud and clear and at such a fever pitch that all could hear. What do you all not understand about a bridge loan? The entire concept would be my guess. Many a corporation in this country has operated on the premis that if the next quarter can look good than all is OK. To do this they have rolled over their short term debt into a new term over and over for years. Due to the fact that the financial industry has screwed the pooch that option is now not availiable. They have been given the money so that they would perform their functions in the financial industry. Have they? hard to tell. They have continued to pay divi and bonus so where is your outrage about that? You all need to wake up and realize that things are WAY worse than you think and that your moronic conservative ideals have been proven as falicy. As a matter of fact thats what got us where we are now. Nothing but low information morons who spend their time in the echo chamber of right wing hate radio would be my guess. FOOLS and TOOLS the lot of you!!

why couldn't Bush just get his buddies in the oil industry to bail out the auto industry? I'm MORE than sure that he and Cheney could have made that possible, but oh...i forgot...they are greedy oil tycoons...they'd rather see us suffer than to give up a shiny nickel.

This country's going to hell in a fast gas guzzling SUV .....thanks again Bush....NOW GO AWAY!!!

Opponents to this bailout should remember that it is not just auto companies that are being supported but businesses across the nation which are dependent on them, such as their suppliers, and on auto workers' incomes, including retailers, trades, housing, personal service sector, health care, etc. This is a LOAN to a real industry which actually produces something, folks, not just a bailout of paper traders.

I disagree with this whole bailout bull. What's the difference between the auto industry CEO's and Madoff?

What is up with people defending Bush and bashing Obama. Bush is the worst President our nation has ever seen, Obama is not in office yet. There can't be that many stupid people out there. Oh yeah, I forgot about the millions of people who voted for McCain, I guess that proves there is.

I love how Obama supporters are bashing Bush for this when Obama himself supported it. Democrats can find anything to whine and complain about.

Actually this is peanuts... Obama's Trillion Dollar package will hit in the spring... that should cure our woes!

None of this will work until they break the UAW. Should have gone to bankruptcy court. If anyone really want to save the Big 3 then get rid of the CEO's and the UAW and you might have a chance. In the meantime I'll continue to drive German.

Obama has set things up beautifully – blame Bush as long as things go bad, and take credit when things inevitably turn around . And he won't have to lift a finger while he maintains his record of doing nothing but speaking well. (cyclicality, morons – both McCain and Obama would have seen a turnaround despited their actions)

And no – I'm not backcountry, hate-filled, uneducated, etc. etc. Blue collar family background, well-educated, socially liberal / fiscally conservative, large donor to non-political charities and believer in lower taxes for all and capitalism.

This is NOT bad economics, Armando. It is NOT a bailout. It is a LOAN, which they have to pay back to the taxpayers and government. Get over yourselves, folks. I doubt any one of you is actually an economist or has taken even a freshman level economics course – macro or micro. The damage that the complete failure of these companies would do to our economy is almost immeasurable. Even bankruptcy would be an economic and judicial nightmare. The real question should be about the bank bailout. That money was given with no concessions and, apparently, no accountability. Direct your anger where it might be relevant.

Nelson, even thought the auto plants are closed for weeks, due to their plush union contracts, the auto workers are still getting paid. There are no workers out of work. These workers are essentially getting a paid vacation.

About time someone reeled in the auto unions. A job bank? Come on, so if you are fired or let go, you still get paid? That makes no sense. These auto workers have been living pretty for decades. They go to work in shorts and tee-shirts, need no education, essentially have a job guarantee and guaranteed health care for life, and yet their cars still don't compare to foreign vehicles, and they still manage to make nearly $30 an hour. The spoiled American auto worker is what killed the American auto industry.

So does this mean that the Big 3 are going into a "Controlled PreOrnagized Bankrupsy"???

If NOT, then I am against this bailout!!!.

He did not want to do it, but I will give him credit for finally making the right decision inspite of his republican nutty buddies.

It's about time that President Bush did something that actually helps our great nation. Thank you President Bush! Any, and I mean any great country that does not manufacture it's own cars and trucks will not and can not remain great! A country that has to depend on another country for it's cars and parts will someday be at the mercy of the outside country. For this reason alone the auto makers had to be given this LOAN, not to mention the 3 million related jobs or the additional 2 million jobs that would be lost as a result of lost buying power of the first 3 million people.

Again, Thank You President Bush for Finally Doing Something that Helps Our Great Nation!

"facts are facts" stated "If Americans feel autoworkers should take pay decreases then they should also support similar legislation that all incomes should have salary limits."

FAF, you might want to start thinking stupid responses through prior to posting them on the web. Not all industry is asking for taxpayer bailout. I'm neither rich nor elite and am a union member. If these guys want to have a job to go to, then they need to make some concessions. If they don’t want to take pay cuts, let them refuse the bailout money and figure it out for themselves. And your contention that the financial meltdown is the cause of the automakers troubles is just ignorant. If you had researched your position prior to blurting it out for all to see, you would have found that the US automakers and the UAW have been playing a dangerous game for years; it was never a matter of if the automakers would see disaster, it was always a matter of when.

This action by Mr. Bush makes his legacy complete; he has made it clear that he can save Iraq only by destroying it. He can save liberty in our nation only by taking away our individual freedoms. He can save free trade and capitalism only by providing special funding for Wall Street firms and huge automakers while small businessmen like myself drown in the wake of his actions. This is no longer America, Mr. Bush, and you have done a fantastic job of destroying the fabric of our nation.
January 20th cannot come soon enough.

This is nothing but a bailout for the corrut sleazy UAW. Why wont they sell their 168 million dollar golf course?

Given all of the government funds that Bush's administration has provided over the past year (including the stimulus cheques in the Spring), how could any Republican ever call Obama and the Democrats socialists?

I think Bush had to do this for the car industry...let's hope that things will take a turn for the better come Jan 20th when PE Obama takes over.
He has such a lot on his plate to clean up from the past 8 years and it is definitely not going to be an easy road for him, so I hope the American people will be patient and give him a chance.

I am appalled at the people here who are griping about "conditions." Did you not read the article? There are so many strings here Gepetto would be proud. This is a paltry amount compared to the billions the financial sector got and has given to their execs-hello...NO STRINGS, NO ACCOUNTABILITY. This is the first decision Bush has made in 8 years where someone is accountable (but not HIM, of course.) And the UAW HAS made concessions over the past few years, bringing their wages in line with what Honda and Toyota pay in the US, and they are now paying for a lot of their health care, which the foreign makers pay for their workers. Were bad decisions made about what KIND of cars to build? Yes, but that was not the worker's fault. I'm so glad none of you works for a parts manufacturer, an auto dealer, an auto repairer, a tire maker, a trucker....do you know the reach of this industry you'd like to see go under? This will help the country, unlike the financial give-away, which has NOT loosened credit because it was NOT given with strings, so they took the money and ran. Kind of like Haliburton in Iraq...billions sent over, no return except body bags. Great work, Congress and Bush.

Finally, he is doing somethng right by the American people. It still doesn't take away from the fact that he got us into this predicament in the first place. Way to go Dubya!

So what are the restrictions along with all our taxpaying dollars? I'll bet Bush has not put any restrictions on these idiots!

The problem with letting the free market just kill the big 3 is that literally millions of americans and a multitude of companies would be compltely out of work without the US auto industry, so for the country as a whole, this is almost like a personal bailout. Now, the real problem is that a deregulated free market allowed the nation's economy to be so depndent on a few giant firms, because the free market is not actually rational. It's certainly a great idea, but until the nation can somehow make good, rational backup plans and not be run by people seeking to make huge profits by investing in what they believe will be a sure bet for years to come, it just isn't going to be feasible. We've seen, now, what happens when deregulation is taken a little too far. It's a mess.

Yo, I'm all the way down with Obama.... but I'm glad that Bush is choosing to end 8 terrible years of service with a handful of good decisions.

I have not been in support of any of these bailouts.The financial and auto companies should be treated like any other business in the U.S. You make mistakes, you pay the price. That old saying "give a man a fish, he eats for a day. Teach a man how to fish, he eats for a lifetime". You don't learm from your mistakes if you don't have to fix them.Letting them glide along knowing they will be "bailed out" doesn't encourage change.
Iv'e sat for 8 years watching this administrations dirty work and have been disgusted! They all should be held accountable for fiscal mismanagement, torture, circumventing the constitution, and plain lying!!!!
Jan 20,2009 cannot come soon enough!!!!

BAD MOVE!!!!!!!!!!!!

I am for the bailout but....all of the upper level executives, including the CEOs, ought to be out on their ears for having got the auto industry into this fix. The bonuses, pay, bad decisions, and general lack for foresight and mismanagement should send these people packing. This whole country has been held hostage to the greed of a few people and it is time it is over. There is too much poverty, homelessness, starvation, lack of ethics and greed, for some people to have millions and millions of dollars in salaries and bonuses every year. No one, I repeat, no one, is worth that much money.

At 10 Billion/Month, how much did that warmonger waste of our money over the past 5 years in a war that should never have been?

Bush had no choice in the matter – he had to give the loan or the country sould have gone immediately into a depression.

Now, let's see him repeal the medical bill that says anyone – and that includes bed pan changers – can withold medical treatment and medications from a person based soley on "moral or religious grounds" even if your doctor perscribes it!

President Bush finally made a wise choice, not only should the "American" auto industry have some help but the money came from the correct fund. Why did it take him so long to make a wise decision on anything? Try to make your legacy a good one?to little to late but thank you for one good decision.

QUESTION????! If the rescue plan for General Motors and Chrysler LLC Friday morning that will make $13.4 billion in federal loans available almost immediately, then they should rethink the plan to close their plants for the holidays General Motor 3 or 4 weeks, Chrysler 4 weeks, putting people out work. What are going to do with the money THAT THE OTHER QUESTION???

Now who would be bailing me out?

Bob Dog,

I'm sure on Jan. 20th everything is going to change for the better, right? How stupid are you? I love all you people that think Obama is just going to change the world the day he steps into office. All of you are in for a rude awakening in 4 years when nothing has happened and out nations deficit is 3 times larger than what it is now. Do you understand everything Obama wants to spend money on? HELLO HIGHER TAXES!

QUESTION??? Is it 13.4 or 17.4 billion dollars.....CBS and MSNBC all have 17.4.

So Bob Dog, if Jan 20th was here & Obama bailed out the Big 3 like Bush did, I'm sure you'd be singing Hallejua's.....typical Bush hater. Yah, I can't wait for Jan 20th, either, to see if Obama finally lets us all know what the actually meaning of "change" is he so diligently swooned you all about.

Bush has never been a true free market conservative. Or a conservative in any other meaning of it. We all know why this plan is bad economics.

George W should he facing criminal charges for war crimes instead of trying to act like a president. Anybody got a shoe!

WHEN DO I GET A BAILOUT????????

I may not be popular but I think Bush did the right thing. You can not let the U.S. Auto industry die. If one or more of the U.S. automakers fail, then some of the parts stores fail and the surviving car automakers U.S. or foreign will have a more difficult time getting car parts in a timely manner. There are several things that can help the automakers become more viable. Since the states have no guts to end the byzantine franchise laws for auto dealers, then either by executive order or federal legislation end the current auto dealership laws. Let automakers sell directly to customers over the internet and own some dealerships. The current dealership laws are inefficient and add thousands of dollars to the price of a car. You can cut out the middle man.

The second is UAW. I am for the people's right to organize a union, but when the union goes too far and impediment to change, then their power needs to reduced. Some of the automworkers benefits far exceed the benefits of average workers and are not in line with the benefits of other non-unionized auto workers.

The current set of management and CEO's need to be replaced. Top engineers from other industries such as aeronautics, computer, environmental and aerospace industries need to brought in to revolutionize the car industry.

Also, hopefully, the Obama administration will add some several conditions to the original bank bailout bill and force them to release lines of credit or else the government will call back the money for the loans. The money was given to release lines of credit, but instead has used to by big banks to buy up smaller banks and also to pay shareholders. Either release line of credits or give the American taxpayers their money back.

The goal is to the automakers to become viable.

Good move Pres. Bush, thanks

This sucks. Yet another industry that doesn't have to be responsible with their business practices. So, will we see the expensive holiday parties for the execs and the union leaders? Or have they gotten smarter than that?

Bush saves Big 3 (for now)! Haha! Sorry, George. There is nothing he can do to help his legacy. He could rescue young children from a burning orphanage, go back in and save their puppy, and still be remembered for blunders and stubborn arrogance.

Worst ever!

If Americans feel autoworkers should take pay decreases then they should also support similar legislation that all incomes should have salary limits.

News medias and the rich and elite have managed to convince many in the public the problems with the automakers has come about because of them paying their hourly-rated workers too much.

Wake up people it's the financial mess that has created this recession with no credit people just aren't buying big ticket items like vehicles unless they absolutely have to make this purchase. But that's okay now the rich CEO's get a retention bonus now instead of a performance bonus so everyone should be happy.

Guess he finally got tired of playing God and messing with peoples's lives. Anyone else would have had the sense to have done this in the first place before people started getting laid off due to his lack action.

Bush can work as hard as he wants to improve his Legacy. Those of us have lived through it will never forget what it really is and has been!

I was counting the days for some time until he got out of office before he completely destroyed this country. Unfortunately, he is finishing up with a final blitz! January 20, didn't get here soon enough.

Yet again, the government giving a substantial amount of money to a failing industry or service provider without clearly defining standards and/or structured goals to be reached by the group receiving the loan. While the success of the loan is a vague, abstract statement ("financially viable"), with very little details being defined or made transparent to the tax payers.

American politicians are quickly becoming a joke and are never being held accountable by the same standards of any other workers in any other industry/profession.

At least he has done something responsible during his 8 years of disaster. Thank God people will keep their job at least for a while when Obama is thinking about how to get the economy moving when he takes the oat of office.

Please bail me out.....Pleeeeeeeeeeeease....

Bail out Americans not the money makers.

Bush has shown to be GUTLESS once again!!!!
Bankrupcy court , and I am not apposed to creative ways to get there, is the ONLY solution!!! Without a Bankruptcy Judge there is no power to solution.

Bush Legacy : FAILURE!!!!

Once again corporate America gets bailed out while the rest of us get screwed. No one wants to face bankruptcy but most of us don’t have the gall to expect a government bailout when financial catastrophe strikes. The US auto makers along with the UAW have been playing a dangerous game for years and anyone with half a brain should have been able to foresee disaster in the future. Well that future is now! Congress was ready to act until the UAW refused to make the necessary concessions, then the deal fell through. Now they are crying and moaning. I’m afraid my heart does not bleed for them. They have been a primary component of the current disaster and this should illustrate to all Unions what can happen when demands become unreasonable. Buit as usual, when the average Joe needs help,it's impossible to get. wehn state governments need help, the call goes unheeded. But when big money is invoved for politicians and their friends in corporate America, the pockets of the American taxpayer is picked and bad decision making is rewarded.
This isn't surprising, just disappointing.

WRONG....WRONG......WRONG!

Once again, the government giving a substantial amount of money to a failing industry or service provider without clearly defining standards and/or structured goals to be reached by the group receiving the loan. While the success of the loan is a vague, abstract statement ("financially viable"), with very little details being defined or made transparent to the tax payers.

American politicians are quickly becoming a joke and are never being held accountable by the same standards of any other workers in any other industry/profession.

Perhaps the next time the repubs get a chance to seal a deal that at least gives them 2 of the 3 things they wanted, they might take it. Since now essentially all the deadlines are very fuzzy and give the auto makers much wiggle room.

Guess that is what you get when you are an obstructionist just to be an obstrutionist and to break the back of unions. Hopefully, they will learn the meaning of "compromise" prior to the next Congress.

Well at least this fall on him and Obama will not be blamed for this one. What a legacy and what a mess he is leaving. Wow will we ever recover?

I guess the "good?" news is that we at least now know where $13.4 billion of the original $350 billion is! Wonder where the rest went? Probably not to Wall Street executives and shareholders in the big banks though because that would just be bad! (Yes, I did actually say that with a straight face! Okay, okay! You caught me, I was laughing out loud!)

I'VE SAID IT OVER AND OVER THAT AMERICA CANNOT ALLOW THE CAR INDUSTRY TO GO UNDER AND GEORGE BUSH FOR ONCE HAS ACTED SOBERLY.THE NEXT THING TO BE DONE IMMEDIATELY IS TO GET THE TROOPS OUT OF IRAQ AND STOP PLAYING POLITICS.AMERICA COULD SAVE BILLIONS BY ACTING NOW.IRAQ MUST STEP UP TO THE PLATE AND LOOK AFTER HERSELF.SAVE LIVES AND MONEY NOW.

Typical Bush. Bail out the big guys. The last package he gave to stimulate the economy was a lousy up to 1200. Guess corporations are more important than us peons. Glad to see you go Bush.....You were the worst President I have ever experienced in my life time and I've been around long enough to have seen several........................

The Republicans in the Senate blocked this deal so the President had to step in and make the loans happen. Maybe the Republicans in this country need to start getting there act together and start caring about the American people instead of politics.

I voted against my reps in GA that supported this crap, but I sure can't vote against a president that, despite popular opinion being against the idea to begin with, insists on spending my tax dollars on bailing out stupidity......... I've already voted for Obama as a sign of my distaste of the current establishment.

What I'd like to understand is : If the Govt is directly bailing out the auto makers, I'd like to see a copy of the conditions. It took weeks of arguing in congress and the senate to essentially get nowhere. Given the white house's poor records keeping (presidential emails can't be recovered, etc), I'm not very optimistic that we'll ever see the conditions ever.....

Wow, I thought that he'd leave that for Obama. I guess he got off his duff and did something. I have to say he must like a dramatic finish. I would like to know the strings attached to these loans. If there aren't any, then it will be a problem in many people's eyes including mine. I know that the auto companies haven't done what they needed to do, but they need to be forced to do it now. I am hoping that the strings attached force them to do that.

He just blew all our money and they will go in bankruptcy in 3 months. Good job Bushie.

well the Unions should love you now... but don't bet on it.

How much more waste and damage can he do? January 20th can come soon enough.

Good to see Bush finally got smart with one of his last acts as President.