Is a deal at hand on a bailout for the auto industry? Maybe:
The White House and congressional Democrats yesterday reached an "agreement in concept" on a plan that would throw a government lifeline to the faltering Detroit auto industry but require the auto giants, their workers and creditors to quickly negotiate a path to profitability or face the prospect of bankruptcy.
But agreement or not, this is not a done-deal. Throughout the course of the negotiations, the Democrats have already agreed that the money will come from a program meant to advance fuel efficiency, that it won't cut into the $700 billion presented to Wall Street on a silver, string-free platter, and with major concessions from the UAW, but that may not be enough:
A further stumbling block was Democrats' refusal to scrap language, vehemently opposed by the White House, that would force the carmakers to drop lawsuits challenging tough emissions limits in California and other states.
That measure "kills the deal," said Dan Meyer, Bush's top lobbyist.
Senior Democratic aides acknowledged as much Tuesday and said they expected the provision to ultimately be dropped.
In other words, after handing over $700 billion to corporations that manufactured bad loans, overpaid executives, and excuses for spa retreats, the Republicans aren't going to just roll over and give a fraction of that amount to corporations that employ middle-class Americans and manufacture a product that people use, without taking as much as possible out of its worker's hides and moving further away from energy independence and a cleaner environment.