The Republican party thanks you. The anti-union corporate tycoons who fund your election campaigns especially thank you!
Thanks for watching our 25 billion dollars so carefully while you piss away hundreds of billions of dollars for the banksters on Wall Street and the war in Iraq and think nothing of it.
The Senate could have voted on the 25 billion dollar bailout today, but Reid blocked it. Reid refused to bring to the Senate floor a 25 billion bi-partisan compromise bill hammered out by 3 Republican Senators and some Democratic Senators! And Republican Senator George Voinovich said they have the votes to pass it!
Reed falsely claimed they needed 60 votes in the Senate to pass the legislation.
That's total b.s. They need 51 votes to pass a bailout proposal. If the Republicans filibuster against the legislation let them talk until January 20th if they wish. Of course they don't want to interrupt month long vacation so a filibuster might only last a few hours, or day. At some point, sooner rather than later, Reid and the Democratic party leadership would have the 60 votes they need for cloture.
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Bipartisan agreement reached - but no vote
by David Goldman
CNN Money
Following the announcement by Reid and Pelosi, a group of senators said they had reached a compromise agreement to provide a $25 billion bridge loan to the auto industry.
The senators - Michigan Democrats Carl Levin and Deborah Stabenow, Missouri Republican Kit Bond, Ohio Republican George Voinovich and Democrat Sherrod Brown, and Pennsylvania Republican Arlen Specter - had hoped to move quickly on their plan.
But it was clear that their bill would not be put up for a vote anytime soon.
"Obviously, we're disappointed that we're not going to act today," Levin said. "We believe there is at least a reasonable chance that this proposal of ours, if it were put to a vote today, it could get to the 60 votes needed to pass."
The bipartisan group from key auto manufacturing states said their bill could pass because the loan would come from the Energy Independence and Security Act passed in 2007, not the Treasury's $700 billion financial rescue plan that Bush and many Republicans oppose tapping.
"We cannot allow the issue of which source of already appropriated funds will be used for the essential purpose of preventing this economy from sliding into a depression," Levin said. "We cannot allow that issue to prevent us from doing what needs to be done, which is to provide these loans promptly to the domestic automobile industry."
Voinovich said the compromise bill would pass through Congress because it sets up provisions that would require automakers to account for their government loan. It would create a vehicle in which companies can submit a plan for viability, and will only receive a loan if the plan is approved by lawmakers.
"We're asking for a plan that will guarantee viability for the companies and will guarantee the loan will be paid back," he said. "I'm disappointed we're not going to get this done today. This would have been a wonderful Thanksgiving present for millions of Americans."
http://money.cnn.com/2008/11/20/news/economy/auto_industry_bailout/index.htm?postversion=2008112017-------------------------
Reid had planned to have a vote on legislation that would have taken $25 billion from the $700 billion already approved for Wall Street and diverted it to the Big Three automakers. But an aide said he decided to hold the legislation when it became clear it would fall well short of the 60 votes needed to pass.
Reid did, however, make a procedural move that could allow a vote on a compromise, which several senators from auto-producing states are feverishly trying to craft. Still, a Democratic leadership aide suggested the chances those senators could come up with something acceptable -- with the votes to pass the Senate and eventually the House -- are not very good. Reid himself acknowledged as much from the Senate floor.
"I understand the importance of this," Reid said. "But I would hope that in addition to understanding the importance of this, we have to face reality. And the reality is that we've tried a number of different approaches."
A senior House Democratic leadership aide said the outlook for a last-minute Senate compromise in the House would be grim. Pelosi "has made clear that's not going to fly," the aide said.
http://www.cnn.com/2008/POLITICS/11/20/congress.auto.bailout/index.html
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