White House Bails Out Auto Industry With $17.4 Billion Loan

The White House will loan the ailing automakers $17.4 billion in exchange for concessions from carmakers and their workers. President Bush said the loans will be called back if the companies are not viable by March 31.

HotAir posted video of the announcement.
Michelle Malkin calls it an expensive joke on taxpayers.

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Jim Hoft is the founder and editor of The Gateway Pundit, one of the top conservative news outlets in America. Jim was awarded the Reed Irvine Accuracy in Media Award in 2013 and is the proud recipient of the Breitbart Award for Excellence in Online Journalism from the Americans for Prosperity Foundation in May 2016. In 2023, The Gateway Pundit received the Most Trusted Print Media Award at the American Liberty Awards.

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