Accustomed though we may be, this statement from Treasury today takes these extraordinary alignments to a mind-bending new level:
The Treasury Department promptly indicated that it would provide short-term relief to the automakers. “Because Congress failed to act, we will stand ready to prevent an imminent failure until Congress reconvenes and acts to address the long-term viability of the industry,” a Treasury spokeswoman, Brookly McLaughlin, said.So: Bush's Treasury is looking forward to the advent of a 58-42 Democratic Senate majority to save the economy.
It seems clear that no one with ultimate responsibility -- e.g., presidents and treasury secretaries at opposite ends of the ideological spectrum -- would allow the automakers to fail at this moment when recession totters on the edge of Depression.
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