Presidential Candidate John McCain Responds to GM Plant Closures
Published: October 12th, 2008
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“I’m disappointed to hear of the upcoming General Motors plant closings. Hardworking people are paying the price because our country’s leaders have put Washington corruption and Wall Street greed before Main Street’s interests for too long. Change is coming. I know families across America are hurting, and as president, I will lead members of both parties in a fight to keep and create good jobs in communities across the country. Now is not a time for words and platitudes. Now is a time for action. That is why I supported auto-industry loan guarantees and will continue to work to create opportunities for American auto companies to build the car of the 21st century and put Americans back to work.”
More by Robert Farago
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+1 for Happy_Endings. I fall in the category you so eloquently describe. Neither McCain nor Obama are looking out for taxpayer best interests, regardless of the garbage both spew.
You can buy a kit to brew your own beer, wouldn't it be fun if you can get a kit to start your own car company?
I know the facts can be inconvenient at times, but the loans we're talking about were made available with the energy bill passed last year to help the automakers get the capital required to take steps toward meeting the new CAFE regs. While the gov't is still working out how companies can apply and receive the loans, there are not provisions that only "domestic" carmakers can apply. In fact, even suppliers can apply if they're investing in ways that meet the criteria, which people who watch this stuff with an unbiased eye are assuming will be a) the money must be invested in the development or manufacture of fuel saving technology and b) the money must be invested in the US. Even though the domestics desperately need cash, and will likely use the loans to aid in that area, this was never meant to be bailout money. If (when) Toyota/Honda decide to retool or build their next plant in the US that will make anything that can be argued to be fuel saving technology, they'll be coming forward with their loan application too.