The White House says it supports aid for struggling automakers, but believes it should not come from the $700 billion financial system rescue fund.

GM, Ford and Chrysler are seeking $25 billion in emergency loans from the financial industry bailout package.

Internal power struggles will also play out in both parties.

Sen. Chris Dodd suggests it would be better to wait until President-elect Barack Obama and a new Congress are sworn in.

Congress is mulling over the possibility of more changes in the $700 billion financial rescue program in light of the deteriorating economy and soaring mortgage foreclosures.

Democratic aides say Speaker Nancy Pelosi intends to seek legislation to provide relief to the battered auto industry, and wants it done in a post-election session of Congress likely to convene in the next few days.
   

Incumbent Henry Brown has thwarted a well-funded challenge to win re-election to the U.S. House from South Carolina’s 1st District.

U.S. Representative Henry Brown won re-election Tuesday to his District 1 seat. 

South Carolina’s Mark Sanford urged the lawmakers not to throw more taxpayer money at the ailing economy.

The nation’s newest National Veterans Cemetery is being dedicated at Fort Jackson.

The head of the Federal Reserve is backing the idea of a second economic stimulus to help Americans.

Democratic leaders may decide to call Congress back to work after Election Day in hopes of taking up and passing a second economic stimulus package.

Japan’s key index shed nearly 10% to close out its work week in history.  On Wall Street, the Dow opens below 9,000 for the first time in five years.  President Bush will address the economy this morning from the White House.

From car dealerships to delicatessens, the country’s economic woes are hitting home.

The massive financial bailout passed by Congress and signed by President Bush could help homebuilders and mortgage lenders. But it’s unlikely to bring fast relief to anybody trying to buy or sell a house.