Neb.'s Hagel inclined to support automaker bailout
12:56 PM
Posted: Thursday, December 11, 2008
OMAHA, Neb. (AP) -- Nebraska Sen. Chuck Hagel says he's inclined to support a $14 billion bailout for U.S. automakers, even though the Senate's top Republican says he's against it.
The bailout is a compromise between President George W. Bush and Democrats. It passed Wednesday evening in the House but faces strong opposition from Senate Republicans, including Minority Leader Mitch McConnell.
Hagel says letting the three major American automakers go out of business would be "astoundingly disastrous" and would affect every small town in the United States.
But he says he expects the automakers may have to file for bankruptcy and reorganize even if they get the bailout.
Hagel says most constituents who have contacted his office oppose any bailout.
The bailout is a compromise between President George W. Bush and Democrats. It passed Wednesday evening in the House but faces strong opposition from Senate Republicans, including Minority Leader Mitch McConnell.
Hagel says letting the three major American automakers go out of business would be "astoundingly disastrous" and would affect every small town in the United States.
But he says he expects the automakers may have to file for bankruptcy and reorganize even if they get the bailout.
Hagel says most constituents who have contacted his office oppose any bailout.
Story Comments
Read More and Post Comments 0 comment(s)
Please note: The following are comments from readers. In no way do they represent the views of The Sioux City Journal or Lee Enterprises. We will not edit or alter your comments, but we do reserve the right to not post or to remove comments that violate our code of conduct. No comment may contain potentially libelous statements; obscene, explicit or racist language; personal attacks, insults or threats. Terms of Service
