White House National Economic Council Director Allan Hubbard said U.S. automakers don’t need a government bailout to help them retool their operations to make more of the fuel efficient cars consumers want, according to Bloomberg. “They don’t need a bailout,” Hubbard told reporters aboard Air Force One today. “All they need is time to restructure, and we’re confident they’ll be successful.” Hubbard was responding to questions about a report in the Washington Post on Sunday that said General Motors Corp. and Ford Motor Co. are requesting billions of dollars in government assistance to ease the burden of health care and pension costs.
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