House GOP wants to slash auto retooling loan program - ModernCamaro.com - 5th Generation Camaro Enthusiasts
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post #1 of 2 Old 09-15-2011, 11:20 PM Thread Starter
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House GOP wants to slash auto retooling loan program

Washington — House Republicans want to cut about half of the remaining funds in a $25 billion auto retooling loan program.

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post #2 of 2 Old 09-16-2011, 04:23 AM
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And they talk of saving money is a bad thing. I've got mixed feelings on this. On one hand, you can see this going to sustain jobs (provided it gets paid back). On the other hand, if you've maxed out your cash, would you take out a loan yourself so you can give Cousin Eddie, Aunt Ethel, and Brother Joe a loan? Or would you start cutting out some of your extravagent spending habits? So the loans would be down 1.5 billion out of 25 billion. It's still 94% of the pot.

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