Bush Approves $25 Billion Auto Bailout

Now this is a bailout that, unlike the financial proposal, will almost certainly never be recouped. As the public is focused on the financial crisis, Bush covertly approved a Democrat-led $25 billion automotive bailout, which forces new energy standards on the Big 3, as well as gives the government a permanent seat at the table because of its stake in the companies.

Although the amount is much less than the financial package, this is more infuriating. The union members get to keep their above-market benefits and defined pensions...and the taxpayers get to pay for it because the companies cannot.

This country is moving quickly towards a path of socialism.