The automaker bailout is now, apparently, officially and really dead. Dems were willing to agree to Republican demands that Big 3 employees move to wage parity with Japanese automakers operating in the US. But they wouldn’t agree to reach parity by 2009, as Republicans demanded.
As you spend time with family and friends this weekend, make sure they know this: the Republicans would rather punish the entire American economy rather than allowing a union even the slightest wiggle room.
But regardless of their reasoning, it’s a cold hard fact that the Republicans obstructed — blocked — this bailout which means the very real possibility that Detroit will fail. Epic fail.
UPDATE: The cable is telling us that the White House is willing to use TARP funds to bail out Detroit.
