US President George W Bush said tonight he did not want to 'put good money after bad' in assisting the car manufacturing sector.
Earlier, the White House said long-term financial assistance for the ailing automakers should only be provided to those that are carrying out plans for long-term viability.
The comment was a response to draft legislation by Democrats to bail them out.
White House spokeswoman Dana Perino said 'Long-term financing must be conditioned on the principle that taxpayers should only assist automakers executing a credible plan for long-term viability'.
