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Washington is the a job saving, job creating innovating force in the American economy it seems:

Congress weighs $25 billion for auto industry

By Richard Simon and Maura Reynolds

Los Angeles Times

September 10, 2008

WASHINGTON


House Democratic leaders are considering a $25 billion rescue package for the auto industry as part of an effort to bolster the sagging U.S. economy. The aid proposal, with its clear political implications for key battleground states, is likely to be put on a legislative fast track, possibly clearing Congress in a matter of weeks.

"This is very, very important. It's an important industry in our country," House Speaker Nancy Pelosi said. "It's about jobs. Jobs, jobs, jobs, jobs."

Coming just days after the Treasury stepped in to bolster housing and financial markets with a takeover of mortgage titans Fannie Mae and Freddie Mac, the Democrats' proposal reflects a new readiness in Washington to intervene in economic trouble spots. It also is a sign of the intensifying effort by presidential candidates in both parties to woo voters in the battered but politically pivotal states that are home to the auto industry - especially Michigan and Ohio.

Democratic leaders said they had not yet decided whether to include the aid - which would come in the form of low-cost government loans focused on helping Detroit develop more fuel-efficient vehicles - in an energy bill or in a broad new economic stimulus package.

But the proposal drew immediate fire from some budget hawks. The White House voiced willingness to work with Congress, which adjourns its fall session in three weeks, on aid for Detroit.

Copyright © 2008, The Baltimore Sun

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