Obama and McCain sympathize with GM, Bush rejects any bailout plans

Senators John McCain and Barack Obama have both sympathized with the major carmakers and the auto workers who may have lost their jobs in GM's corporate restructuring. Both presumptive Presidential nominees remarked that the development was evidence of the tough economic times hitting America.

Speaking in Washington, Obama stated that "America's auto workers are not just the backbone of our economy, they are on the front lines of our effort to produce the next generation of clean vehicles." He also recognized that the effects of GM's restructuring has a flow-on effect to "countless suppliers, small businesses and communities."

McCain echoed these sentiments, with a spokeswoman for his campaign citing high energy prices as the "root cause of many of these problems". Obama hit the nail on the head more effectively, stating that domestic automakers were in a "perfect storm of record gas prices, rising steel prices, a credit market contraction that has made it more difficult for consumers to purchase autos, and a weakening economy that has shed jobs for six straight months."

Meanwhile, President Bush has rejected requests to bailout auto manufacturers such as GM, stating that it is not the role of the government to act as a fall back for any struggling enterprise. GM has stated that they never requested a bailout from the government, and that the situation is entirely on their shoulders.