Obama administration waiting to see automakers’ plans

A top White House adviser says President Barack Obama is committed to keeping the struggling U.S. automakers in business.

Aide David Axelrod says the country needs a thriving auto industry. But he says the industry need a major restructuring – and that will mean concessions by all parties.

His comments come as General Motors and Chrysler face a Tuesday deadline to submit a plan to the government showing how they can become viable. The companies already have received billions in federal loans and are seeking more.

But concessions talks involving the United Auto Workers and GM apparently have faltered.

Axelrod says it’s obviously a difficult situation and everyone needs to work toward a solution. He told “Fox News Sunday” that the administration is going to wait to see what the automakers have to say on Tuesday.