In a statement sent out just now from his communications shop, President-elect Barack Obama announced his agreement with the Bush administration's decision to lend a $17.4 billion loan to troubled automakers.

"Today's actions are a necessary step to help avoid a collapse in our auto industry that would have devastating consequences for our economy and our workers," the statement reads. "With the short-term assistance provided by this package, the auto companies must bring all their stakeholders together -- including labor, dealers, creditors and suppliers -- to make the hard choices necessary to achieve long-term viability. The auto companies must not squander this chance to reform bad management practices and begin the long-term restructuring that is absolutely required to save this critical industry and the millions of American jobs that depend on it," said Obama.

No real surprise here: Obama and Bush -- along with most congressional Democrats -- have stated their support for helping out the automobile industry before. But with the Bush administration ultimately deciding to use TARP funds for the distressed companies and Obama supporting the move, odd political fault lines have been firmly drawn. Obviously, the outgoing and incoming presidents are of different ideological ilk. But both saw compelling reason to bail out domestic auto manufacturers. It was Senate Republicans, in particular those from the South, who have positioned themselves as the alternative voice: the anti-bailout caucus.

A question for readers: what will be the political fallout from this be?