Work Begins In Earnest Today On Auto Industry Bailout

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(WASHINGTON, DC) - The battle over the bailout of the auto industry begins in earnest today.

Democrats in congress say they want to use $25 billion of the $700 billion dollar Wall Street bailout package as low-interest loans to the Detroit automakers.

The Bush Administration says they would rather the $25 billion dollars be generated as new spending, and to leave the Wall Street package alone.

Congressional Republicans, however, are essentially telling Detroit they're not interested.

Should one or more of the American auto companies be forced to file bankruptcy, some analysts and automotive journalists say that would have a massive ripple effect, taking out direct suppliers, indirect suppliers, and dealers.

GM, Ford and Chrysler brand dealerships have been forced to lay off employees already, however, spokespeople from Bedford's two Detroit-car dealerships were unavailable to comment on how the current slump in car sales has affected them.

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