The House Said OK!
The U.S. House of Rep’s agreed on the bailout bill of $14 billion. The problem now is the Republicans in the U.S. Senate. It seems that the Republicans would rather have the automakers file for bankruptcy. I understand that if one or all automakers go under the job rate could rise almost 2 percent. And if that happens we’ll pay a huge amount in unemployment benefits. So is it better to pay now or pay later? I really don’t have answer to that question, and neither do other people. The automakers provide for a lot of jobs in and around their factories. Not only will they have to cut jobs, but also their vendors would have to do the same. I’m still 100 percent against the bailout money, but that doesn’t count for much at this point. I knew they we’re going to get the money, but in the end how much will they really get when it’s all said and done. I think over the next year they’re going to ask for close to $100 billion. And that will be all on Obama to agree to give that much out. We’ll have to wait and see at that point.
