Bailout dead?

Looking good:

The prospects of a $14 billion government rescue of the American auto industry seemed to vaporize Thursday morning as the Senate Republican leader, Mitch McConnell of Kentucky, spoke out forcefully against the bill, effectively dooming its chances despite the urgings of the White House.

Before the election I went to a panel discussion in which libertarian Megan McArdle explained that she planned to vote for Obama at least partly because she felt the GOP needed some time out in the wilderness to regroup and find its bearings. Let's hope this is the start of that.

Update: Damn it.

Another update: The pendulum swings back.