Dec 15 2008

Bush to Offer Auto Rescue Package

Feature Stories | Published 15 Dec 2008, 11:00 am | Comments Off on Bush to Offer Auto Rescue Package -

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fordThe Senate Republican Minority late last week voted down a bailout for the big three Detroit auto makers, only to be followed by President Bush pledging to dip into the earlier Wall Street bailout to save the companies. Now President Bush wants to use $14 billion of funds from the $700 billion Troubled Asset Relief Program or TARP that lawmakers approved earlier in the year. This morning he assured the CEOs of GM and Chrysler of quick short term government help. But the companies say they cannot survive more than a few weeks without government help. Bush’s actions are sharply in contrast with his attitude toward the automakers during the past eight years of his presidency. They are also in contrast to his own party. The Republican opposition to the bailout last week hinged on wanting to slash the union wages of auto workers. In negotiations leading up to the Senate vote, Republicans insisted that the UAW, the largest union representing auto workers, agree to wage cuts. When the UAW stood firm, the GOP blamed the union as the sole reason for the vote’s failure. Union workers tilt heavily toward Democrats and this past election, the UAW mobilized many votes for Barack Obama.

GUEST: Al Benchich, retired president of UAW Local 909, worked for 36 years at the GM plant in Michigan, Jane Slaughter with Labor Notes, an independent periodical on labor based in Detroit

For more information, visit www.uaw.org.

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