Simply Politics and News

[DesertDrifter]

and thanks for ignoring reality, and i am glad you are against your own hero:

George Bush: I Would Again Bail Out Automakers

Accuracy is important

Ted Reed 02/07/12 - 09:10 AM EST

DETROIT TheStreet) -- Many Republicans oppose the billions of dollars in bailouts that saved the U.S. auto industry, but former President George W. Bush isn't among them.

"I'd do it again, Bush said Monday during the closing address at the annual National Automobile Dealers Association convention in Las Vegas, according to The Detroit News. "I didn't want there to be 21% unemployment."

In the closing days of his administration in December 2008, after Congress failed to act, Bush provided the auto industry with $25 billion in emergency aid, including $13.4 billion for GM(GM_) and $4 billion for Chrysler. In its early days in office, the Obama administration in 2009 provided another $60 billion.

"I didn't want to saddle my successor with an additional economic crisis," Bush said, according to the newspaper. Instead, he extended the loan long enough for Obama "to get his team on the ground and deal with it."

more
http://www.thestreet.com/story/11405316/1/george-bush-on-auto-bailouts-id-do-it-again.html