Bush spokesman defends bailout

Published: Dec. 23, 2008 at 5:31 PM

WASHINGTON, Dec. 23 (UPI) -- The bailout of the U.S. auto industry arranged by the Bush administration is the best possible given Congress's failure to act, a spokesman said Tuesday.

Asked about criticism from Republicans like House Minority Leader John Boehner, R-Ohio, and anti-tax activist Grover Norquist, Tony Fratto said that the agreement "is about encouraging meaningful concessions by all parties to make the reforms that they need to make." He said that President Bush and his advisers understand the need for major change in the industry.

"That's why we wanted the legislation from Congress, to ensure that, that it had the force of statute behind it, that it came from funds that were already appropriated by Congress for the auto industry," he said.

The auto bailout passed the House but failed to reach a floor vote in the Senate.

Asked about efforts to help homeowners avoid foreclosure, Fratto said that existing programs all have both strengths and weaknesses.

"If there was a perfect program out there, I think we would have implemented it already," he said.

© 2008 United Press International, Inc. All Rights Reserved.
Order reprints



Additional News Stories
What makes holidays special can kill pets (33 min)
NHL: Chicago 7, San Jose 2 (40 min)
NBA: Portland 93, New Jersey 83
NBA: Sacramento 111, New York 97
COL BKB: Kentucky 73, Stanford 65 (OT)
NHL: Anaheim 3, Carolina 2
NHL: Los Angeles 3, Edmonton 1
fark
Old and Busted: Crashing a wedding reception. New Hotness: Crashing Obama's first State Dinner
Truthers won't be getting much sleep this week after Wikileaks posts 573,000 pager messages from...
Photoshop this Unisphere
Coño man, it has been 10 years since Elián touch our hearts, Ft Lauderdale
Theme of Farktography Contest No. 238: "Hello Old Friend. It's Nice to Meet You.". Details and rules...
Actual headline: "Atlantis glides home with choked pee nozzle." Subby is hoping that's how his night...