Christmas is nine days away and the jury is still out on whether or not the American auto industry deserves financial assistance.

Just days after Senate Republicans blocked a bailout plan intended to aid the American automotive industry, President Bush made a statement to the press yesterday morning while en route from Baghdad to Afghanistan on Air Force One, that he was not ready to make any announcements regarding a White House-led bailout.

Reporters traveling with the President had asked whether he was planning to tap a $700 billion bailout fund to help America's "big three" automakers, Chrysler, Ford and General Motors. "I signaled that that's a possibility," he said, by way of confirming that the option was still on the table.

White House spokesperson Dana Perino had already said there was no timetable for such a decision, but on Sunday, lawmakers said that they expected such an act would have to be sooner rather than later, in order to prevent the collapse of the U.S. auto industry and the elimination of millions of jobs.

Senator Bob Corker (R – Tennessee) said that the Treasury Department had been discussing balance sheets with auto industry representatives, but told the press he didn't, "... think they yet know what they're going to do."

The news that the Bush administration would consider using a portion of the Treasury's $700 billion bailout package intended for financial institutions came last week, though it was also stated that this would be a short-term solution only. Ron Gettelfinger, United Auto Workers President, confirmed on CNN's "Late Edition" that his organization had been in talks with the administration. Like Ms. Perino, Gettelfinger had no sense of any timeline for such relief.

Ben Bernanke, Chairman of the Federal Reserve offered his opinion of the matter, writing it in a letter to U.S. lawmakers. In it, he said that the central bank is "extremely reluctant" to lend to auto companies.

President Bush is still in Afghanistan, with no firm return date announced.