“In the midst of already deep and troubling economic times, we are about to add to that by walking away.”
The sticking point? Unions had agreed to cut their wages to bring them in line with the Japanese–a major concession–but not until their contract ran out in 2011.
Senate Republicans wouldn’t bite, and the deal fell through.
…I wasn’t going to say anything, but this is too much.
What a bunch of idiots. This is not the time to let ideology get in the way of helping the economy. Republicans were actually going to get what they’d wanted for years–a major, major concession from unions–they’d just have to wait two more years for it.
The UAW understandably was wary of cutting wages during an economic downturn… yet the Republicans appear to have thrown a fit and walked away. I don’t understand their reasoning.
That’s just stupid. I can’t imagine the market is going to react well.
This probably won’t come back until 2009, when the new Senate and president are sworn in.
Update: And it would have killed the unions to move the cuts to, say, 2010? Stupid all around.