Size, timing of auto lifeline uncertain
Officials crunch rescue figures

BY JUSTIN HYDE • FREE PRESS WASHINGTON STAFF • December 14, 2008

It was not clear whether the U.S. Treasury and the automakers might reach an accord. The Bush administration had pushed for strict terms as part of the $14-billion plan that was blocked in the Senate, focused on ensuring the automakers made themselves viable.

WASHINGTON — Federal officials and automakers spent Saturday crunching numbers on a possible rescue of General Motors Corp. and Chrysler LLC, with $15 billion from the financial industry bailout the most likely source of money. The White House has said a disorderly collapse of a Detroit automaker was unacceptable in a weakening U.S. economy. White House deputy press secretary Tony Fratto said the administration was collecting data on the automakers’ financial troubles, and no decisions had been made.

Michigan lawmakers have urged the White House to act.

"My gut says it will happen in the next couple of days," said Rep. Fred Upton, R-St. Joseph, at a taping of C-Span’s "Newsmakers" program. "But it’s got to happen, because otherwise they can’t survive until the end of the year.[...]"