Romney, who won MI, called for $20 billion in subsidies. The money would be spent by a bureaucrat and these programs are perpetuated long after the crisis is resolved.
A loan has to be paid back...in general I’m against corporate welfare and bailouts but we do seem to have a crisis that needs to be patched up.
As is being reported, McCain is still calling for subsidies of a sort—tax credits to auto buyers.
That’s in addition to these loans.
Gotta subsidize those electric cars!
(I guess they didn’t learn from the failure of the 1980s)