Bailout Watch 34: Where's There's A Pelosi, There's A Way

bailout watch 34 wheres theres a pelosi theres a way

All this low-interest federal loans to Detroit (a.k.a. bailout) mishegaas started as a proviso of last year’s Energy Bill. That little codicil tabled $25b worth of loans for retooling automaking factories that were/are twenty-years or older (not-so-coincidentally all but two of which belong to Motown’s mavens). From there, the number under discussion suddenly zoomed to $50b. But all of this taxpayer-funded loot depends on getting Washington to A) OK the $25b B) increase it to $50b. Or, gulp, more. So, where’s the “extra” $25b going to come from? Nancy Pelosi! The House Speaker promised the American public [via Bloomberg] that funding for the loans will be included in the 2008 energy bill, in a second economic stimulus package, or in legislation that will temporarily fund the government until the congressional budget work is complete. “We certainly would hope it will be part of the supplemental at the end of the day,” Pelosi said. “It is very, very important. It is about jobs, jobs, jobs.” Well, that’s three jobs anyway (at, what, $16.6b each). What’s the hurry? “The automakers and their suppliers are trying to get the initial funding appropriated so it’s available in January,” Bloomie’s says. Or, say, before the presidential election, ’cause they don’t trust Obama OR McCain to honor their pledge to support the “loans” when bailout fatigue sets in, someone wants to balance the budget or… bankruptcy. Too cynical? If only.

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  • M20E30 M20E30 on Sep 10, 2008

    I think the Democrats want to re-create Argentina Circa 1998. Not that the Republicans are any better(in fact they're worse)......

  • Jkross22 Jkross22 on Sep 10, 2008

    That picture, jurisb's comment and RF's mention of a Brittney Spears song is all I needed for relief. Thank you all. Maybe someone in the Democratic party should mention to Pelosi that it's the Domestics moving plants out of the US, therefore shipping jobs elsewhere. Not that she would understand economics. That's above her pay grade. Inclusion in the 2008 Energy Bill? That's not pork - that's a pig farm.

  • Shaker Shaker on Sep 10, 2008

    "That’s not pork - that’s a pig farm." Is there enough lipstick to go around, or did the "hockey moms" buy it all?

  • Brettc Brettc on Sep 10, 2008

    Maybe she's pretending that she's blowing Dubya. She sure seems to like him since she won't even consider impeachment proceedings. Democrats and Republicans are all the same, except one party is always slightly crazier.