The bad news: It appears that some of your tax dollars will be going to bail out Detroit. (Yes Bob Lutz - I said "bail out.")
The worse news: Instead of Rick Wagoner, Bob Lutz and Robert Nardelli designing cars, now you have Nancy Pelosi.
Yep, it looks like Congress will probably hand over some of our money to GM and Chrysler (and maybe Ford) and will appoint some sort of "car Czar" to oversee the auto industry.
I am reminded of the very old episode of the Simpsons, when Homer finds his long-lost half brother Herb (played by Danny DeVito). Herb is CEO of a car company in Detroit. He is so happy to see Homer that he lets Homer take over the design team to come up with a new car that will save the company from bankruptcy.
Of course, the car that Homer designs puts the company into bankruptcy.
So welcome to your new CEO of the U.S. auto industry: the U.S. government.
Look on the bright side: If you go out and buy a Chevy or a Chrysler car today, chances are it will be a collectible in a few years after the companies go under.