Opponents Lining Up Against Auto Industry Bailout

(MoneyWatch)  Opposition to a would-be auto industry bailout seems to be hardening among Republicans in Congress.

These are the people who would likely grill Detroit 3 executives like GM CEO Rick Wagoner when they get a chance, as I blogged here earlier.

Sen. Richard Shelby of Alabama has taken to using the phrase with regard to the U.S. automakers, "This is not a national problem, it's their problem." Shelby used the phrase when he voted against $25 billion in loans to help automakers develop more fuel-efficient cars, which passed anyway, on Sept. 27.

The New York Times quoted Shelby on Nov. 13 using a similar wording, with regard to an additional $25 billion Democrats are trying to redirect from the Treasury Department's Troubled Asset Relief Program, to help the auto industry. The Times also quoted Sen. Christopher Dodd of Connecticut saying Dodd is concerned the Democrats don't have enough crossover Republican votes in the nearly evenly divided Senate, to pass a veto-proof auto-industry bailout.

House Republican Leader John Boehner of Ohio issued a statement on Nov. 12, criticizing the Democratic plan to provide the automakers with the second $25 billion. "Spending billions of additional federal tax dollars with no promises to reform the root causes crippling automakers' competitiveness around the world is neither fair to taxpayers nor sound fiscal policy," he said.