by Jerry White, WSWS
President Obama’s auto task force has a March 31 deadline to approve updated restructuring plans by General Motors and Chrysler LLC under terms of the federal loan agreement. The task force—which has the power to revoke the loans and has not ruled out the use of the bankruptcy courts—is pressing for sharp reductions in the wages and benefits of autoworkers and a drastic downsizing of the auto industry.
Filed under: disaster capitalism, Economic Crisis ie. Disaster Capitalism, Fuck Obama, Globalization, Neocons = Neolibs, Obama Cabinet, Obama™, UAW, war on the middle class | Tagged: Obama and the Blue Dog Dem fiscal plan, obama economic policy, Obama's New Cabinet, Obama™, Obama™ is Bush III | 1 Comment »