President Bush has approved a 17 billion dollar bailout of General Motors and Chrysler, to tie their operations over until March 31, 2009. Fiscal conservatives like Larry Kudlow are damning the action as Bush giving in to the United Auto Worker's Union. Other analysts are claiming Pres. Bush made this decision to avoid the moniker of Hooverite, Pres. Hoover having worn the label as the president who oversaw the last great depression commencing with the stock market crash of 1929. No one seems to be saying that Pres. Bush simply did the right thing by the country, except the executives of General Motors and Chrysler, and me.
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