Just saw this release from Jim DeMint about Bush's unilateral $17.4 billion bailout of Detroit:
disappointing. While the bailout may provide a short-term boost to three
companies, it will not force them to fundamentally improve their operations and
become competitive in the long-term. This decision, I am sad to say, runs
counter the interests of American taxpayers, American consumers and the American
auto industry,” said Senator DeMint.
“I also believe this action is
unconstitutional. The Executive Branch must have the consent of Congress to
appropriate taxpayer funds. Yet the bailout legislation passed earlier this year
does not permit the Administration to use taxpayer money in this way, and
Congress rejected the auto bailout when it was brought up for a vote last
The senator and I are not on the same page when it comes to other "bailouts" — we definitely disagree about the Obama infrastructure thing — but we're on the same side on this one. All of his libertarian populist rhetoric aside, this IS a constitutionally objectionable action. As I wrote in this editorial earlier this week, the president "takes too much upon himself."
And the thing is, nobody's going to stop the president from doing this — certainly not the Congress. George Will will have an interesting piece about that on our Sunday pages.