GOP knocks Obama's GM plans

Published: Jun. 1, 2009 at 8:42 PM CDT
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WASHINGTON (AP) - Republicans are balking at President Barack Obama's plans for GM, which would give the federal government a 60 percent stake in a revamped version of the automaker.

House Republican Leader John Boehner (BAY'-nur) says it's clear "the government is firmly in the business of running companies using taxpayer dollars."

He's calling on the Obama administration to fully explain its "exit strategy" to get the "government out of the board room."

Obama says the government is a "reluctant shareholder," and says he hopes GM will quickly emerge from bankruptcy court.

He has pledged up to $30 billion in additional federal assistance.

He says his actions are part of a "viable, achievable plan" to get the industrial giant back on its feet.

Obama says he has no interest in running GM and that auto executives "will call the shots."