Obama Puts Brakes On Future Auto Bailouts

"Obama unveiled a short-term infusion of cash for the companies, and said it could be the last"

"President rejects GM, Chrysler rescue plans; Obama warns cash infusion could be last" by Associated Press | March 31, 2009

WASHINGTON - President Barack Obama asserted unprecedented government control over the auto industry yesterday, bluntly rejecting turnaround plans by General Motors Corp. and Chrysler LLC, demanding fresh concessions for long-term federal aid, and raising the possibility of quick bankruptcy for either ailing auto giant.

Obama took the extraordinary step of saying the government will back new car warranties issued by both GM and Chrysler, an attempt to reassure consumers their US-made purchases will be protected, even if the companies don't survive.

What do you mean IF they DON'T SURVIVE? We just gave them $40 BILLION!!!!!!!!

"I am absolutely committed to working with Congress and the auto companies to meet one goal: The United States of America will lead the world in building the next generation of clean cars," Obama said. And yet, he added, "our auto industry is not moving in the right direction fast enough to succeed."

How we gonna lead in manufacturing clean cars when all the plants have been off-shored? You certainly got the direction right, 'bamer. Stumble into the truth didja?

Obama unveiled a short-term infusion of cash for the companies, and said it could be the last....

--more--"