The White House weighed its options Saturday for preventing a collapse of the troubled auto industry, once the backbone of the U.S. economy. So far, the only thing certain is that the Bush administration wants to avoid the possibility of a disorderly bankruptcy of any of the Big Three.
General Motors Corp. and Chrysler LLC have said they could run out of cash within weeks without government help.
“Administration officials are continuing to gather financial information from the automakers, assessing the data, their cash position going forward,” White House deputy press secretary Tony Fratto said Saturday. “We’ll take a look at that information, make some judgments and review our options.”
It’s going to be a long time before the Republicans can recover any kind of reputation after this President.
He may have been Republican but he definitely is not a Conservative.