Sunday, December 14, 2008

White House may be slowing down on auto bailout

Michelle Malkin notes that the White House may be hearing the public's weariness at the idea of bailing out the auto companies:

Hey, maybe it’s beginning to dawn on them that no really does mean no.

Maybe, it’s beginning to dawn on President Bush that the public is sick of bailout-palooza.

Or maybe his lawyers need extra time trying to justify committing an illegal act by siphoning off TARP funds for the automakers. Whatever the case, it’s an opportunity to redouble those phone calls and e-mails to the White House urging them to stop the bailout cycle now.

Reuters reports from Afghanistan:

KABUL (Reuters) - President George W. Bush said on Monday an announcement on a auto industry rescue was not imminent, leaving the industry's fate clouded in uncertainty for a little longer.

"We're not quite ready to announce that yet," Bush told reporters on Air Force One during a flight from Baghdad on an unannounced visit to Afghanistan.

He had been asked when he might make an anticipated announcement about tapping a $700 billion financial industry bailout fund to aid General Motors Corp, Ford Motor Co and Chrysler LLC.

Asked whether he was leaning toward using financial bailout funds, Bush said: "I signaled that that's a possibility."

Bush said a decision would not take long. White House spokeswoman Dana Perino said earlier that she had no timetable for a decision.