Bush Reviews Auto Finances Before Deciding on Writing Check

Detroit's Big Three automakers have staked their last, best hopes for an industry-saving lifeline on President Bush, and the White House has signaled they can expect a decision as soon as Monday.

(ABC News/AP)

Canada Also Willing to Help With Detroit Bailout

"We will do whatever we need to do to ensure that our industry survives," Ron Gettelfinger, president of the United Auto Workers union, told ABC News. "That means we're ready to go back to the bargaining table with all of the stakeholders."

The bailout amount is likely to be closer to $5 billion than $15 billion, administration observers say.

"From the White House's point of view, this is keeping those companies solvent for a matter of weeks, not a matter of months, until the Obama administration takes over," Rothenberg told ABC News.

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The bailout would trigger an added bonus for the Big Three from north of the border. Canada and the province of Ontario have agreed to chip in an extra 20 percent to any bailout approved by the White House.

Canada's Federal Industry Minister Tony Clement said Canada is prepared to provide help because the auto industry in Ontario, which is across the border from Detroit, employes hundreds of thousands of jobs that are directly or indirectly related to the U.S. car companies.