Word: retooled
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Ever since the automakers first asked for a bailout last month, the Bush Administration has been urging that it come out of a $25 billion loan package Congress approved in September that the automakers were supposed to use to retool their assembly lines to build more fuel-efficient vehicles. Democratic Congressional leaders have wanted the cash to come instead from the $700 billion financial rescue pot they gave Treasury Secretary Hank Paulson in October - which is why the auto executives found themselves in the strange position of pleading their case before the House and Senate banking committees...
...never asked for a bailout. Where does it end? AIG, you know, they need $40 billion more and we only gave them a hundred billion last week, didn't we? It's just ridiculous. And now General Motors. They said we're going to give them $25 billion to retool. Retool what? They'll run through that money so fast they'll be back wanting more. We can't keep every loser alive...
...ballooning deficits, an energy bill has the advantage of seeming to pay for itself. The sale of carbon-emission permits would raise billions of dollars, money Congress could then disperse in the form of grants for alternative-energy research, tax credits for greening homes and businesses, and loans to retool inefficient industries - starting with Detroit's struggling automakers. Republicans doomed a Clinton-era attempt to do something similar by christening the plan a "carbon tax." For Obama to succeed, he would have to convince the public that this tax is truly an "investment...
...anti-terrorism agreements and the fact that we may not have the shuttle. Long term, I think that as long as the U.S. says look, we really do want to push on to the moon and Mars, I think that's the right way to go. We can easily retool to get there...
...question is whether it will grow up. If Florida can reinvent itself, it can be the tip of the American spear, showing the nation how to save water and energy, manage growth, restore ecosystems and retool economies in an era of less. But that will require a new kind of reinvention. "We know how to crash and how to recover," says Miami historian Arva Moore Parks. "We don't seem to know how to learn...