FOXNews.com

Reaction to Bush's decision on auto bailout

Friday, December 19, 2008

By The Associated Press

ADVERTISEMENT

Reaction to President Bush decision Friday ordering an emergency bailout of the U.S. auto industry:

___

"Today's actions are a necessary step to help avoid a collapse in our auto industry that would have devastating consequences for our economy and our workers. With the short-term assistance provided by this package, the auto companies must bring all their stakeholders together _ including labor, dealers, creditors and suppliers _ to make the hard choices necessary to achieve long-term viability." _ President-elect Barack Obama.

___

"We appreciate the president extending a financial bridge at this most critical time for the U.S. auto industry and our nation's economy. This action helps to preserve many jobs, and supports the continued operation of GM and the many suppliers, dealers and small businesses across the country that depend on us." _ General Motors.

___

"While we appreciate that President Bush has taken the emergency action needed to help America's auto companies weather the current financial crisis, we are disappointed that he has added unfair conditions singling out workers." _ United Auto Workers President Ron Gettelfinger.

___

"The action today is disappointing news for autoworkers and taxpayers, who deserve better _ particularly from their Congress, which essentially punted on this difficult issue and is gearing up to move radical environmental legislation next year that will wreak havoc on American jobs." _ House GOP leader John Boehner of Ohio.

___

"These requirements (of the White House-backed loans) will require consideration from all constituents, requiring commitment first in principal, leading to implementation this coming year. Chrysler is committed to meeting these requirements." _ Chrysler CEO Bob Nardelli.

___

"Dear President Bush: No." _ Grover Norquist, president of the Americans for Tax Reform.

___

"All of us at Ford appreciate the prudent step the administration has taken to address the near-term liquidity issues of GM and Chrysler. The U.S. auto industry is highly interdependent, and a failure of one of our competitors would have a ripple effect that could jeopardize millions of jobs and further damage the already weakened U.S. economy." _ Ford President and CEO Alan Mulally.

___

"We have ended up with an agreement open to interpretation, that eliminates the sense of crisis, where taxpayer dollars are expended and we are left to hope that the next administration has the will to enforce the tough concessions necessary to make these companies viable for the long term. "_ Sen. Bob Corker, R-Tenn.

___

"I think it will be just enough to help us hold on." _ Clayton Akers, a worker at Chrysler's Jeep Liberty and Dodge Nitro factory in Toledo, Ohio.

___

"Unless union contracts are renegotiated, and unless demand picks up for domestic autos, $14 billion, $34 billion, $74 billion, even $104 billion will not solve the problem." _ Rep. Jeb Hensarling, R-Texas, chairman of the congressional oversight panel for the Wall Street rescue program.

___

"I'm a Democrat and I have been pretty tough on President Bush and his ability to help the auto industry or the manufacturing industry in this country. But today, we are all in Michigan, and frankly, the three million workers across the country whose jobs are saved, at least temporarily, we are saying thank you to President Bush for stepping in and doing what Congress could not, would not do last week." _ Gov. Jennifer Granholm, D-Mich.

___

"I am disappointed that the president has apparently yielded to the temptation of substituting the whims of politicians for the wisdom of the free market. History teaches us that doing so rarely achieves the desired outcome." _ Sen. Jeff Sessions, R-Ala.

___

"The United States is quickly becoming a bailout nation ... partially nationalizing major industries, allocating capital based on politics and profoundly undermining our free-market economy. Our economy's ability to recover and grow is being further hampered with every new bailout." _ Pat Toomey, president of the anti-tax Club for Growth.

___

"People in the plant will be more motivated. ... It's a relief" _ Brian Thorne, 37, an employee of GM's parts plant in Parma near Cleveland.

___

"The president chose to stick the taxpayer with the tab as he walks out the door. I believe it is a shameful attempt by the president to protect his own legacy. The taxpayer will surely remember him for it." _ Sen. Richard Shelby, R-Ala.

Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.