WASHINGTON (AFP) — Hopes for a swift bailout of the US auto industry appeared to stall Thursday after a top Democratic senator said Republicans looked set to scupper the proposal until Barack Obama is president.
Top Democrats including president-elect Obama urged an accelerated bailout of the once-mighty US industry amid warnings from bosses that the sector, hammered by mounting losses and plunging sales, could collapse.
Spending billions of additional federal tax dollars with no promises to reform the root causes crippling automakers’ competitiveness around the world is neither fair to taxpayers nor sound fiscal policy,” Boehner said.
Boehner was the one screaming for the no banker left behind bailout.
