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No. 2 House Republican compares Obama to Putin
WASHINGTON (AP) - The No. 2 Republican in the House is comparing some of President Barack Obama's economic policies to those of Russia's prime minister and former president, Vladimir Putin.
Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
The House Republican whip, Rep. Eric Cantor of Virginia, tells The Associated Press that Obama is micromanaging the auto industry to win points with Democratic allies and labor unions.
Cantor said Thursday that Obama's plans for the auto industry are, in his words, "almost like looking at Putin's Russia."
Cantor says the normal rights of secured creditors have been taken away and given to political cronies and the auto workers unions.
The Obama administration says that the roughly $80 billion in federal aid to the car companies, their lending affiliates and their suppliers gives automakers a chance to become viable and competitive.
Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
