In 2008 many American financial institutions were insolvent. Russ Carnahan voted to bailout these banks even though they were no longer economically viable. GM and Chrysler were on the verge on bankruptcy. Russ Carnahan voted to bail them out, too, even though they were no longer economically viable.In what can only be described as crushingly disappointing to Morley, Martin, and the rest of the tea party, the auto bailout actually has been effective at saving American jobs and spurring investment. GM has repaid $8.1 billion in government loans with interest ahead of schedule and is investing $257 million dollars in two plants, one of which is in Kansas City, Kansas. Chrysler is investing $600 million in a plant in Illinois. These investments, of course, bring new, good jobs to Americans and will help keep us competitive.
So sorry to disappoint Ed Martin and the tea party, but it looks like the auto bailouts are helping to improve the economy.