AP News via Michelle Malkin -
The White House says it is considering using the Wall Street rescue fund to prevent U.S. automakers from failing.
President George W. Bush’s press secretary says it would be “irresponsible” to further weaken the economy by letting the Detroit car companies fail. Dana Perino says the White House normally would prefer to let the financial markets determine the companies’ fate.
But she says that given the economy’s shape, the White House will consider other options if necessary to prevent the automakers’ collapse — and that could mean using money from the $700 billion Wall Street rescue.
Perino says Bush and top aides talked on Friday about the urgency of the situation. A potential $14 billion to aid the companies collapsed in the Senate on Thursday night.
It did not “collapse in the Senate.” Our Republican Senators worked hard on our behalf to kill it. Our Republican President should be lending them and their constituents his support instead of earning the praise of Democrat Chris Dodd and his fellow supporters of auto industry nationalization.
Personal note to President Bush:
With great respect, I give you a hearty nod to almost all of the points on your Bush Legacy Talking Points Memo. But you really need to let go of that “responded with bold measures to prevent an economic meltdown” thing. It’s not working for ya.
Ed Morrissey blogging on this too.
Michelle’s sentiments are a bit more direct:
Dear President Bush:
We repeat: No means no.
And the law is the law.
No TARP money for the UAW bailout.
It’s illegal.
Stop the bailout cycle.
Follow the law.
