It finally went through: The American auto industry is now on the government dole. The White House confirmed this morning that the federal government will bailout the Detroit automakers to the tune of $13.4 billion.
 

On top of that, an additional $4 billion will be available to them in February.
 

The plan is to stabilize the automakers by March, at which point they’re own their own.
 

CNN reports:

"Allowing the U.S. auto industry to collapse is not a responsible course of action," President Bush said Friday morning.

The president said Friday the plan will give the automakers a chance to show they can be viable outside a "disorderly bankruptcy" which he said would drive American into a deeper depression with effects "far beyond the auto industry."

Good for the automakers, but can I be next in line for the bailout handout? I’m a struggling college student and if I run out of money the effects will be felt far beyond my life as well. Just think of the tuition I won’t be able to pay, the stores that I won’t be able to frequent and the bars whose business I won’t be able to support.
 

Hey government, first the automakers, then college students, okay?