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Ryan says auto bailout looks bleak; bad news for Kenosha and Janesville

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U.S. Rep. Paul Ryan, D-Wis., of Janesville says there's no guarantee his colleagues will approve a federal loan package for the auto industry.

Ryan said it might not prevent tens-of-thousands of job losses if Chrysler gets it way, and merges with another of Detroit's Big Three.

The General Motors' plant in Ryan's hometown is closing two days before Christmas, and Chrysler's engine plant in Kenosha is also in Ryan's district.

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