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The Democratic Strategist

Political Strategy for a Permanent Democratic Majority

Herbert Hoover Time

As you probably know, Senate Republicans blocked action on legislation providing a “bridge loan”–or a bailout, if you prefer that term–to the Big Three automakers. Some GOPers claimed to favor an alternative approach; some seemed to welcome the idea of a collapse of the U.S. auto industry; and still others simply cited public opposition to any further bailouts. In reaction, stock markets registered losses worldwide.
It’s unclear at this juncture whether the Bush administration will find a way–perhaps using the earlier bailout funds–to keep the Big Three automakers alive until the next Congress is sworn in. Either way, it’s beginning to become obvious that all the let’s-tough-it-out, anti-bailout, anti-stimulus talk in conservative circles since Election Day could have real consequences, for the GOP and for the country. According to Politico, Vice President Dick Cheney told Senate Republicans at a luncheon meeting yesterday that if the auto plan were rejected, it would be “Herbert Hoover time” in America. We’ll soon know if Republicans are willing to live with the responsibility for making that happen.
For an angry assessment of the Senate GOP’s actions, see John Judis’ piece from The New Republic yesterday.

One comment on “Herbert Hoover Time

  1. frflyer on

    Republicans only seem interested in cutting off the union at it’s knees.
    What I would require for helping the auto industry is that they begin making PHEVs on a large scale and that management resign.
    The VP of GM is still talking about the Oregon Petition, the much debunked and discredited list of “thousands of skeptic scientists” regarding man made global warming.
    We can’t have obstructionists and science deniers running the car companies at a time when it is critical that we make great strides toward lowering carbon emissions. The book “The Heat is On” should be a must read for all Americans, so they will know who has been fooling them and who is paying for it. To deny science, and confuse the issue of Global warming in the minds of the public, for the sake corporate profits is criminal. Bush should be impeached for this alone.

    Reply

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