Big Three asking for billions

The Big Three’s chief executive officers met at the U.S. Capitol yesterday with congressional leaders to ask for $25 billion in government loans for the auto industry. The loans would revamp plants in Michigan and other states so automakers can produce more hybrid cars and other fuel-efficient vehicles.

Don't dare call it a bailout, say the automakers. They note that these loans will be paid back with interest and that they were already authorized, though not funded, by the last energy bill. Further, they say that providing the funding is in America’s national interest since it would help wean the U.S. off foreign sources of oil. I'll venture to say that this request gets a very long look, seeing as the money would be sent to swing electoral districts in Michigan, Missouri, Minnesota, and Ohio, but maybe I'm just cynical. Here's more from The Hill.