White House Will Just Bail Out Detroit Itself, Without Help From You Jerks in Congress

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With Senate Republicans intent on doing nothing, the White House (which supported the auto industry bailout so strongly that Dick Cheney actually went to Senate Republicans on Wednesday and said, “If we don’t do this, we will be known as the party of Herbert Hoover forever”) is considering using a portion of October’s $700 billion bailout package intended for Wall Street to save the automakers. Here’s a press release from Press Secretary Dana Perino:

It is disappointing that while appropriate and effective legislation to assist and restructure troubled automakers received majority support in both houses, Congress nevertheless failed to pass final legislation. The approach in that legislation provided an opportunity to use funds already appropriated for automakers, and presented the best chance to avoid a disorderly bankruptcy while ensuring taxpayer funds go only to firms whose stakeholders were prepared to make the difficult decisions to become viable, competitive firms in the future.

Under normal economic conditions we would prefer that markets determine the ultimate fate of private firms. However, given the current weakened state of the U.S. economy, we will consider other options if necessary – including use of the TARP program — to prevent a collapse of troubled automakers. A precipitous collapse of this industry would have a severe impact on our economy, and it would be irresponsible to further weaken and destabilize our economy at this time.

That’s how off-the-deep-end congressional Republicans have become. They’re making the Bush White House look sane.

Update: Speaking of off-the-deep-end, one conservative blogger is now claiming that benefits to gay partners are sinking automakers.

More Substantive Update: Treasury is telling the press it will only do enough to keep the Big 3 afloat until January, when the new Congress (which will have larger Democratic majorities) can decide on a more permanent course of action.

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Minority rule, corruption, disinformation, attacks on those who dare tell the truth: There is a direct line from what's happening in Russia and Ukraine to what's happening here at home. And that's what MoJo's Monika Bauerlein writes about in "Their Fight Is Our Fight" to unpack the information war we find ourselves in and share a few examples to show why the power of independent, reader-supported journalism is such a threat to authoritarians.

Corrupt leaders the world over can (and will) try to shut down the truth, but when the truth has millions of people on its side, you can't keep it down for good. And there's no more powerful or urgent argument for your support of Mother Jones' journalism right now than that. We need to raise about $450,000 to hit our online fundraising budget in these next few months, so please read more from Monika and pitch in if you can.

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