Obama Pushes for $50 Billion for Automakers, Oversight Czar
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Obama $50 Billion, Obama Auto Industry, Obama Bailout, Obama Oversight, Obama Oversight Czar, Obama Transition, President Obama,
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Yahoo! News:
President-elect Barack Obama is pushing Congress this year to approve as much as $50 billion to save cash-starved U.S. automakers and appoint a czar or board to oversee the companies, a move that would require President George W. Bush's support, people familiar with the matter said.
Obama's economic advisers are now convinced that if General Motors Corp. doesn't get a financial lifeline soon, it will have to file for bankruptcy by the end of January. And if the companies don't get almost $50 billion, Obama will be dealing with the issue again by next summer.
First Posted: 11-14-08 12:29 AM | Updated: 12-14-08 05:12 AM