Obama Weekly Address

George Wenschhof



President Obama touted his administration's bailout of the U.S. auto industry.  "Just a few years ago, the auto industry wasn't just struggling - it was flatlining," he said, pointing to the condition of General Motors and Chrysler, and the impact on their supply chains and related industries. "More than a million jobs across the country were on the line -- and not just auto jobs, but the jobs of teachers, small business owners, and everyone in communities that depend on this great American industry."

But, Obama said, "we refused to let Detroit go bankrupt," referencing the headline of a 2008 op-ed Romney wrote in support of a managed bankruptcy model to save the struggling automakers.

"Today, auto sales are the highest they've been in more than four years. GM is back. Ford and Chrysler are growing again," he said. "Together, our auto industry has created nearly a quarter of a million new jobs right here in America."
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