It only takes a simple understanding of the economy to know that you can't SPEND your way out of an economic slowdown. This guy's just following the next commandment of his Democrat playbook. A bailout will only work as a stop-gap measure to keep certain industries afloat. You need to stimulate consumers, and the only way to accomplish this is to provide/enable/empower consumers with even greater purchasing power. We call those tax cuts...
Fuck the banks... Fuck the car companies... Fuck the government... Cut most government salaries (aka non-producers) by 50% with the exception of key defensive and infrastructure positions... Shut down the Smithsonian and other government run garbage (open them up "more" to volunteers and donations)... Cut government entitlement staff by 50%... Cut IRS staff by 50%... Cut the salaries of all elected officials by 50%... Cut the crap!