Support Thin on Capitol Hill for Automakers Bailout

By Jennifer Parker

Dec 4, 2008 7:50am

The CEOs of the Big Three automakers return to Capitol Hill today, this time driving in cars, not flying on corporate jets.

They face a lot of skepticism on Capitol Hill.

Members of Congress are looking at a recent CNN poll which found a majority of Americans, about 60 percent, oppose a bailout for the automakers.

There is what they call "bailout fatigue" right now on Capitol Hill. 
So the automakers really have a lot on the line when they go to this hearing this afternoon.

Right now, congressional leaders are saying the votes are not there for a bailout.
But everyone knows the job loss numbers are coming out tomorrow and the prospect that General Motors could go out of business before the end of the year could galvanize some support.

President-elect Barack Obama has said he likes what he’s seen so far from the automakers.
But he has not committed to supporting it yet.

And what I’m hearing on Capitol Hill is that if Obama or President Bush don’t step in to support the bailout, this thing won’t pass.

–George Stephanopoulos

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