Monday, September 29, 2008

Congress Makes $25 Billion Auto Industry Loan

In case you missed it, in addition to the Wall Street/Mortgage/Credit guarantees, Congress has also made the US Auto Makers a $25 Billion Loan Guarantee. But after all it's only money - Your Money. More of our Tax Dollars spent. US Congress passes 25 bln loan guarantees to automakers has the details of this expendutare.
The loan guarantees were included in a continuing resolution that included funding for the US government and the wars in Iraq and Afghanistan.
These Loan Guarantees includes Foreign Auto Makers with Manufacturing Plants in the US.
Under provisions of the new legislation, not only US carmakers are eligible for the guarantees but also suppliers and foreign automakers with plants in the United States that are more than 20 years old -- Nissan and Honda's US operations qualify.
Our National Debt is Over $9Trillion. It is time to Rein in our Spending and fill-in the Debt Hole!!

Can we really aford to elect a President who wants to expand the National Debt? In case you aren't aware of it - Senator Obama wants to increase Taxes and Spend, Spend Spend. His programs will require spending many times what his Tax Increases Realize If you though President Bush was a spender, You Ain't Seen Nothing Yet!!

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