Washington, Dec 19, 2008 - Don't like their cars enough to buy one? Too bad - they're getting your money anyway.

President Bush announced Friday $13.4 billion in emergency loans to General Motors and Chrysler, ideally preventing the collapse of two American automobile giants.  Another $4 billion would be available in February, the president announced.  The money will come from taxpayers by way of $700 billion in funds initially dedicated to financial institution bailouts.

Stocks jumped with the announcement, Bloomberg.com reported, though prices fell as Friday progressed. GM started the trading day off with a boom - up to $4.49 at 9:30 a.m, but sinking down to $4.05 later on.

To comply with Bush's terms, autoworkers within the companies should agree to wage and work rules that are competitive with foreign automakers by the end of next year. Conditions also reference executive pay cuts and the elimination of private corporate jets.

U.S. Rep. Patrick McHenry (R) deemed the news "unfortunate," labeling the big two as "terminal patients desperately in need of surgery."

"Taxpayers are forced to fund the continuation of the automakers' bankrupt business model, which jeopardizes the long-term job security of autoworkers," McHenry said.

Under the terms, GM and Chrysler must make significant strides by March 31, else the loans will be "called" for repayment, Bush said.

"Does anyone actually believe that if these companies spend that money and fail to meet those goals, they will be able to repay taxpayers their $17 billion?" McHenry asked.