If the Republicans wonder why they lost Michigan, this would be a good start. Sure they care about all the white collar workers on Wall Street, but the demises of the US auto industry and the millions of related jobs will hurt the economy far more than any of the financial firms going belly up. It is estimated that at least 10% of the US work force is either directly or indirectly supported by the auto industry.
Nov. 14 (Bloomberg) -- A $25 billion bailout for automakers faces opposition from Republican leaders in Congress, complicating prospects for its approval in coming weeks.
House Republican leader John Boehner, Richard Shelby, the top Republican on the Senate Banking Committee, and Alabama Representative Spencer Bachus, have all criticized aspects of the aid package being crafted by Democrats in the House and Senate.
``I don't know of a single Republican who is willing to support'' the auto bailout, Democrat Christopher Dodd, chairman of the Senate Banking Committee, said yesterday, adding that he would be careful about bringing up any measure that might fail.
And the beat goes on...
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