"Barack Obama used [Monday's] Oval Office meeting with President Bush to press for immediate aid for the struggling US car industry, according to leaked reports.
Mr Bush said that he could support some aid in exchange for approval of a free-trade agreement with Colombia – but there was no sign that either the President-elect or his Democratic colleagues were willing to bend on that issue." (source)
There is NO possible way bailing out the automotive industry (i.e. paying their UNION BENEFITS) will help the economy. We might as well throw those taxpayer dollars into a hole in our respective backyards. Obama isn't a dumb man...he knows this as well as every money person in the US knows this, BUT he is now beholden to the unions.
"U.S. labor unions, having helped Barack Obama win the presidency, entertain high hopes he will enact their agenda to bolster their negotiating power with employers and increase their numbers after decades of decline.
Unions have "an unprecedented amount of leverage" after turning out white middle-class voters for Obama in battleground industrial states like Pennsylvania and Ohio that he won in Tuesday's election" (source)
And now there's talk about helping people with their credit card bills?! The Great Society part II. A President beholden to labor thugs and the beginning of the end of capitalism and free enterprise (not to mention the wet dream of labor unions...the demise of the small business) Good lord 52% of the country...what have you done?