On the floor of the Senate today, Harry Reid, a Democrat, praised President Obama's auto bailout:
"As a matter of fact, Mr. President, the figures are really staggering," said Reid. "500,000 manufacturing jobs have been added, 1 million jobs have been saved due to the president's auto rescue program. So that's a fairly significant change."
But Reid added, there's more work to do. "Now, we still have a long ways to go to get back to full strength, and there's still too many Americans out of work. we've made solid progress in the last four years but we have a long ways to go. The depth of the crisis did not determine our destiny. Instead, determination drove us to prosper again."
The legislation to help those affected by Hurricane Sandy has been turned into something of a mini auto bailout, according to those familiar with the Obama administration's request. The request includes millions of dollars worth of cars, to be paid for by the federal government.
Obama's request, as detailed in a letter sent to Capitol Hill by the director of the White House's Office of Management and Budget, Jeffrey Zients, includes these requests:
The auto bailout debate, already a triumph of narrative over reality, took another turn for the absurd last week as both presidential campaigns exchanged salvos over what amounted to a misunderstanding about Chrysler's plan to build Jeeps in China.
The United Auto Workers union is sending out a letter from its legislative director, Josh Nassar, urging senators to vote against several budgets pending in the Senate. One of the budgets UAW apparently opposes is President Obama's own budget.
The Detroit Free Press reports that “General Motors made $1 billion in the first quarter, beating analysts’ expectations before being dragged down by a special accounting-related $590-million charge in struggling Europe.”