Bush: Any Aid To Automakers Must Be Paid Back

By: Associated Press
By: Associated Press
Bush spoke to reporters Friday on the South Lawn not long after the release of a government report showing a big jump in the unemployment rate.

Amid the turmoil in the financial markets, President Bush makes a statement outside the Oval Office of the White House in Washington, Thursday, Sept. 18, 2008, about the economy and government efforts to remedy the crisis. The president canceled a planned trip to the South today so he could meet with his economic advisers instead. (AP Photo/J. Scott Applewhite)

President George W. Bush says that any auto bailout measure passed by Congress must require car companies to pay back the taxpayers.

He said that he is concerned that some automakers may not survive over the long-term, and urged Congress to act next week on his approach to helping the troubled industry. Bush spoke to reporters Friday on the South Lawn not long after the release of a government report showing a big jump in the unemployment rate.

Bush says that if any federal dollars are given to the car companies, the money must all be paid back.

He says he is concerned about providing taxpayer money to companies "that may not survive."


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