PASSING THE BUCK....TO BUSH
Harry Reid has pretty much admitted that he wants President Bush to take the fall on the auto bailout saying "...it would be the Bush administration's job to save the industry if Congress doesn't." It's a good bet that this Congress is going to take a pass, letting the new administration handle the mess.
It seems evident that, if given cash, there is no reason to believe that the industry will, or can, change their way of doing business without massive changes in their labor contracts. And Barney Frank says that is unacceptable to him.
The Big 3 say they cannot be allowed to fail. George Will points out that they have already failed. The question is how we proceed. Mitt Romney says a bailout will only delay the inevitable demise of the industry and they should be allowed to go bankrupt. With all contracts then up for new negotiation it will be time for the UAW to stand up to be counted. They can either sign a rational agreement or pass their jobs on to the foreign competition. It won't be the corporations who are "exporting" jobs but the workers themselves.