Michaud cool to auto bailout

U.S. Rep. Mike Michaud said Friday that he hasn't yet seen the Democratic proposal to bailout the auto industry, but that he's not all that crazy about the idea. You'll recall that Michaud, a Democrat from northern Maine, was the only one of the state's delegation to vote against the original $700 billion bailout of the financial industry. After touring the Togus VA Medical Center, I asked him whether he'd support giving some money to U.S. automakers who are struggling. "I am concerned when you look at the auto industry," he said. "Where does it end? We might want to look at the paper industry." From his perspective, Michaud said it would make more sense to help the auto industry on the tax side, rather than the revenue side. "We need to look at policies first before handing out money," he said. He's also not optimistic that the lame-duck Congress will take much action on an auto bailout or other stimulus package. Reuters is reporting that the Senate will begin debate on a $25 billion bailout bill for automakers on Monday.