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 Automakers Bailout Up in the Air - Air Force One Press Gaggle by Dana Perino 12/12/08 — Friday, December 12, 2008 —  Q Will you start using TARP money now? Are you going to direct the Treasury --MS. PERINO: I didn't say that. I didn't say that. I said that given the current state of the U.S. economy, we'll consider other options if necessary, and I said including use of some of the TARP; that's one of the options. Q How soon -- walk us through his thought process right now. Who does he need to talk to first? What decisions need to be made before he decides -- MS. PERINO: He's in regular contact with all of his economic advisors. And so we'll be weighing all of the options and making decisions as soon as we need to. Q How soon does he feel he needs to make a decision? MS. PERINO: We didn't discuss that. I mean, obviously we have talked about he urgency of the situation. We have been pushing to get this done; we wanted to get it done last night. Both Congress and the -- the House and the Senate had bipartisan majorities supporting our approach, but they didn't get it over the goal line. And so we have to consider what other options we would take. But I don't have a time frame on it. Q Are you basically saying that you are going to make the decision -- it's not Congress now? I mean, basically, you are going to make the decision on what to do -- MS. PERINO: Congress spoke. Congress spoke last night. They don't have the votes to do anything, despite having majorities in both the House and the Senate supporting a reasonable approach that we put forward. We thought that the legislation could have even been improved. We thought that senators were making good progress last night and talking about the Corker amendment. But again, it just -- it didn't get the votes that it needed to pass the Senate. They needed 60; I think they had 53. Q You mentioned the use of -- you mentioned TARP funds as one option. Are there any other options? MS. PERINO: We're going to weigh all options. I mentioned TARP, as that's been something that you all have been asking about for weeks. And it's just one of the options that's out there, sure. Q Can you describe the other options? MS. PERINO: No. Q Is the Federal Reserve -- cash from the Federal Reserve an option? MS. PERINO: I don't know. Q Will the decision be made this week? I mean, it's Friday today. Or is next week -- MS. PERINO: I don't know. Air Force One | Automobile Industry | Congress | Dana Perino | Legislation | President Bush | Press Gaggle | TARP | White House Press Corps Labels: Air Force One, Automobile Industry, Congress, Dana Perino, Legislation, President Bush, Press Gaggle, TARP, White House Press Corps >> Full Story
Posted by White House Press Corps @ 9:45:00 PM
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