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Thursday, November 20, 2008

FromDC2Iowa: Auto bailout: An open letter to Congress

Excerpted from this post at FromDC2Iowa

... Dear Senators Grassley, Harkin and Congressman Loebsack: Thank you
for your willingness to address one of the toughest sets of economic
challenges any Congress has ever confronted, and to search for
governmental responses that will produce more good than harm. I do not
believe the proposed auto bailout is such a response. Press reports
indicate you intend to support it anyway. ... So I have some questions
for you that I hope you will be good enough to answer -- as well as
providing me with sources on the Internet where I can find the reports
and data you have relied on in coming to your position. 1. Overview.
All data I know of suggests that major indicators -- manufacturing
output, consumer confidence and purchasing, unemployment, mortgage
foreclosures -- are all going to continue to get worse, and probably
at an accelerating rate, for the foreseeable future.

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