Obama is mum on Big Three proposals

In response to the Chrysler, Ford, and General Motors proposal to the Federal Government for bailout money, president-elect Barack Obama has stated that he won't comment on each one of the proposals and their details. However, Obama has said that the explicit details that each car maker has provided is a definitive step in the right direction in light of the restructuring, repayment, and planning needed for the government to give money to the auto makers.

Obama has been a staunch supporter of the automotive industry and has been outspoken on the need to get the car makers back on their feet in a way that will benefit everyone. The President-elect said that it was too early to decided where the $25 billion should come from - the Troubled Assets Relief Program (TARP) or an existing federal loan program.

( Add your comments )

Recent Entries:
· 2011 Ford Explorer
· Honda Announces Mileage Marathon Winner
· Cadillac Converj is GM's next electric car

[ READER COMMENTS ]

Obama is mum on Big Three proposals

Add your comments...

We kindly ask that you keep your comments relevant to this blog entry. Abusive or inappropriate comments or comments that are specifically promotional in nature may be removed.