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Archive for December, 2008

Rice: People will soon thank Bush for what he”s done

(CNN) — Secretary of State Condoleezza Rice said that despite President Bush”s low approval ratings, people will soon "start to thank this president for what he”s done."

"So we can sit here and talk about the long record, but what I would say to you is that this president has faced tougher circumstances than perhaps at any time since the end of World War II, and he has delivered policies that are going to stand the test of time," Rice said in an interview that aired on CBS” "Sunday Morning."

The secretary of state brushed off reports that suggest the United States” image is suffering abroad. She praised the administration”s ability to change the conversation in the Middle East.

"This isn”t a popularity contest. I”m sorry, it isn”t. What the administration is responsible to do is to make good choices about Americans” interests and values in the long run — not for today”s headlines, but for history”s judgment," she said.


Without a Deal, Carmakers Face Bankruptcy Threat

By Paul Kane
Washington Post Staff Writer
Friday, December 12, 2008; Page A01

An eleventh-hour effort to salvage a proposed $14 billion rescue plan for the auto industry collapsed late last night as Republicans and Democrats failed to agree on the timing of deep wage cuts for union workers, killing the legislative plan and threatening America’s carmakers with bankruptcy.

“We’re not going to get to the finish line. That’s just the way it is. There’s too much difference between the two sides,” Senate Majority Leader Harry M. Reid (D-Nev.) announced after 10 p.m., concluding a marathon negotiating session that ended in gridlock. Reid warned that financial markets could plummet when trading opens this morning.

“I dread looking at Wall Street tomorrow. It’s not going to be a pleasant sight,” he said.

The legislation would have provided emergency loans to General Motors and Chrysler, which have said they face imminent collapse without federal help. The high-stakes talks broke down over when the wages of union workers would be slashed to the same level as those paid to nonunion workers at U.S. plants of foreign automakers such as Toyota and Honda.

Sen. Bob Corker (Tenn.), the lead GOP negotiator, said the sides were on the brink of a deal on the amendment he had offered. Representatives from the United Auto Workers — who were present for most of the negotiations — would not agree to a specific date, Corker said. (more…)


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