Michigan representatives ask for $25B in new loans for auto industry

The first $13.4 billion in auto industry loan funds have been disbursed to General Motors and Chrysler, but already Michigan's congressional representatives are seeking another $25 billion in industry loans. The funds would be targeted at suppliers and carmakers, with some funds set aside to help offset the unemployment attendant to the industry's contraction. The new funds are proposed as part of the $825 billion stimulus spending package the White House is already planning to submit to Congress, reports the Detroit Free Press.