Old Project Avalon Forum (ARCHIVE) - View Single Post - GOP Senators Voice Opposition To Auto Bailout

peaceandlove · 12-12-2008, 07:43 AM

Source: http://www.campaignforliberty.com

Auto Bailout Sinks in Senate

Posted by Andrew Ward on 12/11/08
Last updated 12/11/08

The reason? The United Auto Workers (U.A.W) refused to agree to the Republican Senators' bailout plan that included cuts in union wages, AP reports.

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

Reid was working to set a swift test vote on the measure Thursday night, but it was just a formality. The bill was virtually certain to fail to reach the 60-vote threshold it would need to clear to advance.

Reid called the bill's collapse "a loss for the country," adding "I dread looking at Wall Street tomorrow. It's not going to be a pleasant sight."

While unions with federal backing aren't exactly promoters of a freer market, it's important to keep in mind that the main cause of the global economic bust is the Federal Reserve.

Please continue to urge your elected officials (especially those who purport to be defenders of free markets) to oppose future bailouts and czar-creating schemes.

12-12-2008, 07:43 AM	#5
peaceandlove Avalon Senior Member Join Date: Sep 2008 Location: Turtle Island Posts: 2,776	Re: GOP Senators Voice Opposition To Auto Bailout Source: http://www.campaignforliberty.com Auto Bailout Sinks in Senate Posted by Andrew Ward on 12/11/08 Last updated 12/11/08 The reason? The United Auto Workers (U.A.W) refused to agree to the Republican Senators' bailout plan that included cuts in union wages, AP reports. Republican Sen. George V. Voinovich of Ohio, a strong bailout supporter, said the UAW was willing to make the cuts -- but not until 2011. Reid was working to set a swift test vote on the measure Thursday night, but it was just a formality. The bill was virtually certain to fail to reach the 60-vote threshold it would need to clear to advance. Reid called the bill's collapse "a loss for the country," adding "I dread looking at Wall Street tomorrow. It's not going to be a pleasant sight." While unions with federal backing aren't exactly promoters of a freer market, it's important to keep in mind that the main cause of the global economic bust is the Federal Reserve. Please continue to urge your elected officials (especially those who purport to be defenders of free markets) to oppose future bailouts and czar-creating schemes.