Congress has refused to pass a bill to prop up the ailing American-based automobile industry. What’s more, they’ve considered the pros and cons of an aid package not just once, but twice. That’s a strong message. It’s clear that our elected legislators lack the confidence that Chrysler, Ford and General Motors can pull themselves out of the tailspin that they’ve put themselves in over the past few years.
Now it’s up to the executive branch to provide the financial backing that both Chrysler and General Motors claim is essential to meet their immediate cash-flow needs. These funds are necessary to cover the bets they’ve already ante’d up for - but only until March 31st. Details to be filled in when the full news is broadcast later, we’re told.
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