D.C. roles toward the abyss

Washington has managed to get through the auto industry crisis with everyone remaining in character.  The Congressional Democrats were concerned that the auto executives were making too much money.  The Congressional Republicans were afraid that the auto workers were making too much money.  The White House was . . . well, the White House was whatever the White House has been for the last eight years--somewhere between absent-minded and just plain absent.  Now it is up to whatever adults remain in Treasury to decide whether to let the auto industry have some of what is left of the Trouble Asset Relief Program funds.  The best bet is that the White House will give the automakers enough money to last until January 21.  That way, the automakers will fail on Obama's watch, and two years from now, Republicans can campaign on the issue of the Democrats being responsible for what then will be a full-scale depression.  If nothing else, our tax dollars (actually, not our tax dollars, but our children's tax dollars, since most of what we spend is borrowed money) provide solid entertainment value, in the form of the longest-running kabuki play in history.

Comments

[Jason]

General Motors had offered buyouts to all of its 74,000 U.S. hourly employees. [5] Those workers could have elected to take a lump-sum payment of $45,000 or $62,500, depending on their job description, and retire with full benefits. [6]

Republican Sen. George V. Voinovich of Ohio, a strong bailout supporter, said the UAW was willing to make the cuts - but not until 2011.

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