WASHINGTON (AP) — Throughout the bleakest times of the truly
great Recession, Congress agreed in bipartisan votes to bail out 2 of Detroit’s
biggest businesses, GM and Chrysler.
Today, however, there seems little appetite from either
Democrats or Republicans in Washington for the federal rescue with the
birthplace of the automobile industry. Detroit now stands for the largest
American city ever to file for bankruptcy protection.
A real bailout could be huge, perhaps as much as $20
billion. Federal resources are strained, using the national debt at $16.7
trillion and the us government struggling beneath the constraints of automatic
spending cuts that took effect in March.
President Barack Obama has experienced a tough the required
time getting his present proposals through Congress, where Democrats hold a
narrow majority within the Senate and Republicans will be in firm control of
your home.
“I think it could be a waste of the president’s time for it
to even propose it. His plate is really full and throwing Detroit into the mix
is the last thing in the world he’d want, ”said Ross Baker, a political science
professor at Rutgers University which specializes in Congress. “I think the era
of massive government bailouts has ended.”
Political leaders in Washington haven%u2019t pushed for any
bailout of Detroit, that has been the country’s fourth-largest city in the
1950s speculate has received a declining population, accelerated by hard times in
the auto industry during and following the punishing 2008-2009 recession.
Congress continues to be in the near - gridlock territory.
Opportunities for spending poisonous of cash with a bailout for Detroit seem
severely limited. The White Property is going for a wait-and-see approach, but
clearly exhibiting little enthusiasm for the next big bailout.
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