George W. Bush = Modern-Day Nero

It looks like President George W. Bush is determined to add Detroit to New Orleans, as this modern-day Nero fiddles while a second American city drowns. Bush says he is concerned that the automakers will not survive, but he is totally unwilling to take any action. It's clear that General Motors will be forced into bankruptcy by the end of the month and that Chrysler will fail no later than late January. Those collapses will then eat away at Ford's supply base and ultimately destroy whatever is left of the auto industry in the upper Midwest. Dealerships will close, tool-and-dye shops will close, subcontractors of all kinds will either slash their workforces or go straight out of business. All automakers will then be disrupted. The United Auto Workers will basically cease to exist.


That's the kind of legacy Bush is going to leave to the country and to the Republican Party. Sens. Chris Dodd, D-Conn., and Barney Frank, D-Mass., cannot save the world in three days. If nothing else, GM needs money to cover this month's expenses so a new Congress can tackle this problem.

Enjoy this piece?

… then let us make a small request. AlterNet’s journalists work tirelessly to counter the traditional corporate media narrative. We’re here seven days a week, 365 days a year. And we’re proud to say that we’ve been bringing you the real, unfiltered news for 20 years—longer than any other progressive news site on the Internet.

It’s through the generosity of our supporters that we’re able to share with you all the underreported news you need to know. Independent journalism is increasingly imperiled; ads alone can’t pay our bills. AlterNet counts on readers like you to support our coverage. Did you enjoy content from David Cay Johnston, Common Dreams, Raw Story and Robert Reich? Opinion from Salon and Jim Hightower? Analysis by The Conversation? Then join the hundreds of readers who have supported AlterNet this year.

Every reader contribution, whatever the amount, makes a tremendous difference. Help ensure AlterNet remains independent long into the future. Support progressive journalism with a one-time contribution to AlterNet, or click here to become a subscriber. Thank you. Click here to donate by check.

Close
alternet logo

Tough Times

Demand honest news. Help support AlterNet and our mission to keep you informed during this crisis.