OPINION:
Noble: The senators who “no” to issuing another bailout to the Big Three automakers.
CEOs of the Big Three automakers have been on Capitol Hill lobbying for bailout funds to keep their companies afloat. The Democrats in the House of Representatives rammed a bill through to provide $14 billion. House members voted 237-170 to approve the measure on Wednesday. The bill then went to the Senate.
On Thursday, Senate Republicans could not come to terms with Democrats and the United Auto Workers (UAW) on specific aspects of the bill. Senate Republicans demanded that the UAW change its wage stance and make some concessions. As reported by The Washington Times, Republicans asked that the union set a date certain by which its members would have a lower pay scale, “one comparable to such manufacturers as Nissan and Volkswagen.” The UAW refused to meet this requirement. Senate Republicans noted other problems with the bill, saying “it wasn’t tough enough to change Detroit’s business ways, didn’t do enough to protect taxpayers and gave too much power to a ’car czar’ to oversee the deal.”
The bill failed to pass the Senate in a vote late on Thursday night, 52-35.
For listening to taxpayers who are weary of corporate welfare and voting against the auto bailout, members of the Senate who voted ’no’ are the Nobles of the week.
Knave: The Bush administration for changing its no to a “yes” in agreeing to bailout the Big Three.
Back in November, the Bush administration said it did not support using funds from the $700 billion economic bailout nicknamed TARP. Treasury Secretary Henry Paulson testified to the House that the money should remain off limits to Detroit “no matter how badly the automakers needed help.”
Well, the Big Three asked for $25 billion, then $34 billion, but were denied Bush administration support. Democrats then offered to take money from an existing program that was meant to fund retooling of factories to make more fuel-efficient vehicles. Democrats agreed to Bush administration requests to drop language that required carmakers to end lawsuits challenging emissions regulation in California and other states. Then administration officials agreed to a $14 billion bailout and a “car czar.”
On Friday, after the bill failed to pass the Senate, the Bush administration expressed disappointment that the bailout legislation failed. Then the administration said it would consider giving money from the TARP to the Big Three.
For failing to show leadership on the bailout - that is, saying no, yes, yes - the Bush administration is the Knave of the week.
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