Another $25 billion for automakers in the works

Smelling the White House

Democrats are kicking around the idea of another $25 billion for automakers as a "bridge financing" loan according to the DetroitNews. Such funding now appears inevitable as Congress will eventually offer the Big 3 some kind of bailout. Fortunately, it seems that money will come with strings, such as the money can't be used for bonuses. Unfortunately, it doesn't appear the new legislation will come with enough strings, such as a fuel economy requirement, for instance.

If Democrats attain a super-majority in Congress, I worry a little that Congress might save too much of the Big 3. Yesterday's auto sales numbers indicate quite clearly that the US auto industry MUST be downsized in some way, and it seems that must begin with Chrysler.