Nancy Pelosi may Call for a Special Session to Bail Out Automakers

 This article informs us that Nancy Pelosi may call a special session of congress to deal with the issue of bailing out the automobile industry. President-elect Barack Obama is also in favor of handing out welfare to the automakers and he urged the signer of this disastrous legislation, President Bush, to also back the bailout of the auto industry. So far, in the only part of this fiasco that the president has gotten right, Bush has resisted the urge to bail them out. Taking into account the president’s penchant for uncontrolled spending I would bet that he will fold on this issue and acquiesce to the Democrats. But even if he doesn’t you and I will be forced to bail them out eventually anyway. 

 Democratic leaders in Congress said Tuesday they will push legislation next week to use the $700 billion Wall Street rescue fund to bail out Detroit auto makers, and President-elect Barack Obama ordered his transition team to look at ways to aid the car industry even before his inauguration.

 The president-elect received the support of the unions and this is the first bill to come due. But there may be more at work here by the Democrats than just bailing out the automakers. They appear to be using this issue as a way to push two more issues in their agenda.

would have to accept the same rules on executive compensation that financial-service companies have swallowed with the Wall Street rescue.

Auto makers receiving aid would also have to agree to strict rules aimed at building “green and clean” automobiles, one Obama adviser said.

 Don’t get me wrong, I think that the salaries that these executives bring in is incredibly overinflated, but I have a problem with the government regulating how much a person, any person, can earn. Democrats are also trying to use this issue to force automobile makers to cave into another of the left’s special interest groups, the environmentalists. They are going to hold this carrot of a bailout over their heads and tell them they can have it just as long as they follow a few rules…. Make the product that we want you to make and we will give you billions of dollars.

 I don’t know why I keep writing about this bailout bill, all that it does is get me more and more frustrated.

 The Democrats will soon be in charge of overseeing this albatross of legislation, but let’s not forget who started it, President Bush. As he fades into the sunset the taxpayer will be burdened with this for years to come.