By Doug Cunningham

Because Senate Republicans could not force deep enough wage and benefits cuts on union autoworkers, the senators Thursday night refused to support emergency loans to the U.S. auto industry that would save 2-3 million jobs. The emergency loans for auto are dead in the U.S. Senate, killed by an anti-union lame duck political minority using the auto industry’s crisis to strike a blow against workers and their union. GM has hired bankruptcy advisors and says it will assess all its options to continue its restructuring plans and to obtain the means to weather the financial crisis. One in ten U.S. jobs are tied to the auto industry. The ripple effect throughout the economy is tremendous. GM and Chrysler have said that without emergency federal loans they face bankruptcy as soon as the end of this month.