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Republican Denounces Bush On Auto Bailout

Rep. Tom Price (R-Ga.) is the first -- but certainly won't be the last -- Republican to rip President Bush for bailing out the auto industry.

Republicans who blocked the auto legislation in Congress are sure to be upset with their president, yet the Bush moves this morning to help Detroit will give the GOP a strong opportunity to make a clear break with an unpopular president.

Here's Price's statement:

"It is deeply disappointing that the administration has chosen to use taxpayer dollars to delay the inevitable need to fundamentally restructure these companies,” Price said. “By bailing out automakers without real reform or long-term solutions, we are only protracting uncertainty and putting billions of tax dollars at grave risk.”

“It is now clear that the creation of TARP was a rueful mistake which has failed to provide urgent market stability, yet has put our country perilously in debt for the foreseeable future. "

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