In fact, they are pretty much flat out saying that they will use TARP money for the loans.
When you look at the sequence of events:
- Dems suggest that the TARP be used, and Bush says no, so they fold like overcooked broccoli.
- They want Senate approval for the "Car Czar", and Bush says no, so they fold like overcooked broccoli.
- They want improved fuel economy standards, and Bush says no, so they fold like overcooked broccoli.
- They want automakers to drop lawsuits against California-Type emission standards, and Bush says no, so they fold like overcooked broccoli.
- The Republicans kill the bill that gave Bush everything that he asked for.
- Bush is forced to use the TARP money to keep the automakers going.
Additionally, now that this has gone down in defeat, it appears that constituencies for the Big 3 (Big 2½) are coming out of the woodwork.
It turns out that auto dealers, for example, are absolutely incensed at this, and these folks give lots of political money:
"I have never been as disappointed as I am today," said Versailles [Kentucky] Ford dealer Jack Kain, who was chairman of the National Association of Automobile Dealers Association in 2005.
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