Back in November and December, there were a lot of voices in Congress that said General Motors and Chrysler would be looking for much more emergency aid in early 2009.
Those critics were proven right yesterday as GM and Chrysler submitted their latest plans to the Treasury Department, as the two companies asked for another $14 billion in aid.
With sales dropping like a rock, both companies vowed to cut more jobs - which is not what the economy needs obviously - but not enough people are buying.
Don't take it just from me - you can take a minute to look at the GM and Chrysler plans.
Things are so bad at GM (just like they were back in December) that the company says it needs $2 billion from the feds to avoid bankruptcy in March.
And GM needs another $2.5 billion from the feds to avoid bankruptcy in April.
Do I hear $3 billion for May from anyone?
Chrysler wants $5 billion in new loans from Uncle Sam to stay afloat, and said it might need $3 billion more on top of that.
After reading those numbers, now I understand why the Obama Administration wanted the stimulus bill finished by President's Day.
Why? Because if the debate went past this Monday, it would have run head-on into this request for billions more in aid from General Motors and Chrysler.
Today we have President Obama outlining a $50 billion housing crisis plan on home foreclosures and the mortgage meltdown.
The price tag is huge. No one is sure what will work.
And no one's sure who is going to survive.
This is the 150th anniversary of Charles Darwin's book that started the great debate over the evolution of species.
"Natural selection," is one popular term for it.
Right now, we are going through natural selection in the economy. The only question is whether the feds will step in and save some of these animals from extinction.
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