I live in Michigan. I just moved further away from the Detroit area, but still think it's considered a suburb. I'm on the out skirts of Ann Arbor. I would have posted on this sooner but I do not have any net access at home yet, and have to use common area of the complex I live in. However I have few hours of the day to go there.
So what was the Auto Loans about? Why were they needed? And why did the republicans against it?
1) The loans are about giving the Auto Companies money that the Banks are NOT giving them. The auto companies have to buy equipment, raw materials, and pay their employees. The banks were given shit loads of money but have chose to sit on it, instead of using it for what it was supposed to be used for. Getting cash back into the system in loans.
2) They're needed because the companies have debt. They have to pay everyone for building the car before the car is sold. Cars are not fast food. They do not get built when you order them. They get built in advance, but don't bring money in, until it's sold. People are having problems buying cars right now. Not because the cars they make suck, but because the BANKS are refusing to give loans, if you need the money for anything. Don't need the loan, you'll get the money.
3) Why did the Republicans in the Senate kill it? Because they want to make people slaves. I'm watching Chris Dodd right now. He's talking about how the Republicans wanting to blame the workers for the problems that the auto makes have. They want to say the workers are paid too much. The guy getting paid $18.00 an hour to sweep the floor is a myth. I've worked in the auto industry. I got $15.00 an hour when I worked for EDS at a GM plant. When I went to work for GM I was making 30.00 an hour. But I was doing project management. and I was under paid. Yes there were UAW guys that made lots of money and hour there... but that's because they were there for 20 years, and that was the raises they got for performance. The reason that we're not seeing the Japanese companies asking for the money, because they get their money from over seas banks. BANKS that are not SITTING ON money they got from a Government.
So what the republicans are saying is that people make too much. They're still trying to kill the middle class. They're about getting their buddies (the ones that bribe them with donations) more money, while they get the American people who elect them even less. They gave shit loads of money to banks, and the banks are not doing what they are supposed to do, yet the republicans say they want to be the fiscal group. Bull shit. They want to make us a two class society.