Monday, June 1, 2009

GM bankruptcy

The Obama has promised to provide $30 billion of post-bankruptcy financing. Query: Where is Obama getting that money? The president doesn't have the power to commit the government to expenditures not appropriated by Congress. When did Congress appropriate the $30 billion? Or is this something Obama believes he is sure to get from Congress but hasn't got yet? For that matter, has Congress approved Obama's guarantee of automobile warranties?

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