Auto loans included in must-pass spending bill

[Nambe]

Source: Reuters

A mammoth spending bill to keep the U.S. government running through March will include a $25 billion loan guarantee package for the struggling auto industry, House Appropriations Chairman David Obey said Tuesday.

The must-pass spending measure, which carries a price tag of more than $600 billion, is likely to come up for a vote on the House floor Wednesday, Obey told reporters.

The inclusion of the low-interest loan guarantees is a victory for struggling U.S. manufacturers General Motors Corp (nyse: GM - news - people ) , Ford Motor Co (nyse: F - news - people ), and Chrysler LLC, which is controlled by private equity firm Cerebus Capital Management LLC.

"I'm not a fan of the American auto industry and I'm not a fan of this provision. But Congress authorized it and we're providing the funding for it," said Obey, a Wisconsin Democrat. ...

Read more: http://www.reuters.com/article/domesticNews/idUSTRE48N08M20080924

[NotGivingUp]

1. it's time we put an end to this bullshit!!! eom

[bluesmail]

2. The D's have the advantage. If they just don't blow it.

They're privy to what I would call top secret investigations. The D's are in the most coveted seat. Please don't blow it D's. (I'm on pins and needles). signed, a taxpayer

[WhiteTara]

3. they should be forced to come up with

50 MPG cars now.

[bluesmail]

4. Keep going...little closer...add more for the taxpayers/autoworkers.

You are so close, don't stop.

[Gillian]

5. Yummy, cheaper SUVs.