White House: U.S. Can't Stand Fall Of Auto Industry

By: Associated Press Email
By: Associated Press Email

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The White House says the weak economy can't afford the collapse of the nation's automakers.

White House press secretary Dana Perino cited the latest bad economic news — a jump in jobless claims to the highest level in 26 years — in arguing for Senate passage of a bailout package for the Big 3 automakers.

Perino said Thursday that the economy is in such a weakened state that adding another 1 million people to the unemployment rolls from an auto industry failure is not possible. She said: "We don't think the economy can sustain it."

Perino called the legislation, opposed by some Senate Republicans, a reasonable approach.

She said that President George W. Bush and other administration officials would be lobbying skeptical senators Thursday to vote for the bill.

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