Democrats asking to utilize bailout funds with auto industry

Well, not ALL of the 700 billion. But at least some of it--in addition to the already promised 25 billion specifically earmarked for the automotive industry. In a letter to Treasury Secretary Henry M. Paulson Jr., the Democratic leaders said, "A healthy automobile manufacturing sector is essential to the restoration of financial market stability, the overall health of our economy and the livelihood of the automobile sector's workforce." The letter was signed by the House speaker, Nancy Pelosi of California, and the Senate majority leader, Harry Reid of Nevada.

Near the end of the week, the Big Three met with Congress officials and also drafted the letter to Paulson. In their letter, the Democrats said they hoped that government aid to the automakers would also help address the energy crisis and ultimately combat global warming.

"It is our hope," the letter said, "that the actions that Congress has taken, and that the administration may take, will restore the pre-eminence of our domestic manufacturing industry so that it can emerge as a global, competitive leader in fuel efficiency and in new and path-breaking energy-efficient technologies that protect our environment."

Well, anything's better than nothing.

Source: Deseret News

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Democrats asking to utilize bailout funds with auto industry

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