I think Ohio Senator George Voinovich (R) is on the right track with pursuing an auto bailout deal, if only for the people of Ohio…
Ohio Jobless Rate hits 7.3% in October, which is a climb from 5.7% in October 2007.
A potential compromise emerged this week, with Republican Sens. George Voinovich of Ohio and Kit Bond of Missouri working with Democratic Sen. Carl Levin of Michigan. They proposed allowing automakers to borrow $25 billion for short-term needs from the retooling fund, but they would require repayment fairly quickly. And automakers would have to prove to the Commerce Department that they had viable plans.
Then, with proceeds from the companies’ repayment, along with possible gains from automakers’ stock the government owned, the fund could be replenished — and its original intent of pushing the industry toward greater fuel-efficiency could be honored.
It’s a start. And it’s not carte blanche. Union reform needs to be added.
It has been
days since Paul Broun proved himself unworthy of a spot in Congress.
LaFountain for Congress 2010.