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The article reports on the statement of U.S. President George W. Bush which warns against the disorderly bankruptcy of Big Three automakers and wants to ensure that taxpayer money will be protected. At the American Enterprise Institute, Bush stressed the uncertainty of putting good money to automakers which would become viable in the future. Dana Perino, Secretary of White House Press, stated that Bush will not allow a disorderly collapse of the companies and failure of businesses.

The article reports on the status and developments of the legislation of the U.S. Congress helping struggling automobile makers in the U.S. by offering short-term loans. It highlights the stance of Republican and Democratic law makers on the legislation, as well as their compromises and intended amendments on it. In an effort to overcome procedural problems, the Senate Majority Leader has offered Republican votes on the proposals sending $14 billion of low-interest loans to automobile makers.

The article discusses the move of Democrats to sign on a deal with the White House to give up $15 billion in low-interest, short-term loans to automakers, although it seems like the Republicans can have enough vote to block it in the U.S. According to the article, an important provision in the plan is to establish a precise long-term financial viability to settle the issue. Some of the leaders stated that it is beneficial to study the plan first before deciding to expedite it or not.

The article reports on the pledge of complete cooperation by the administration President George W. Bush to President-elect Barack Obama in the U.S. Bush noted the historic nature of election for Obama and praised Senator John McCain of Arizona for a determined campaign and a lifetime of service. Bush also noted that the election was historic for a generation that witnessed the civil rights struggle 40 years ago and saw election of the first black president of the U.S.

The article presents the opinion of U.S. Congressional Budget Office (CBO) Director Peter Orszag regarding the nation's economy. He has said that if the Congress does not adopt a financial bailout package soon, the economy faces financial chaos that could resemble the Great Depression. Orszag said that directing the package towards resolving liquidity problems should cost the federal government relatively little while answering insolvency issues would mean overpaying for assets in purchase.

The article reports on the economic assistance from the U.S. Federal government for the Big Three automakers. It cites that it will reach $700 billion Troubled Assets Relief Program (TARP) to provide financial assistance for the company. However, George W. Bush's administration has rejected the idea of using TARP to fund the Big Three because it can worsen the weak economic status of the country.

The article reports that the U.S. Democrats are set to finish drafting a $15 billion loan package for beleaguered U.S. automakers, with an agreement with the White House possible. Democrats continued to modify their plan, but one likely provision is that the Big Three automakers may not use the loans to sue states that adopt California's stricter limits on tailpipe emissions. It is unclear whether Democrats will require the creation of an auto czar to oversee the restructuring.

The article reports that House Majority Leader Steny Hoyer is confident that the U.S. House of Representavies will sanction the $700 billion economic rescue package on October 3, 2008. However, a spokesman for Minority Leader John Boehner claims that the bill needs more Democrat and Republican votes for its passage. Moreover, White House Chief of Staff and the lobbyists of President George W. Bush also helped in the gathering of votes.