Obama promotes auto industry bailout as a policy that worked
WAYNE, Mich. (AP) – President Barack Obama is praising the 2009 federal auto bailout, calling it a success story that shows government can work. He says that because of economic steps his administration took early on “we are entering the new year with new confidence that America is coming back.”
Obama is on a pre-State of the Union trip to draw attention to themes he intends to highlight in his Jan. 20 speech to Congress.
He spoke Wednesday after touring a Ford assembly plant, where he examined several vehicles and slid behind the wheel of a new red Mustang. He said, “This is an American car right here.”
The government spent nearly $80 billion bailing out Chrysler and General Motors. Last month the government reported it recouped nearly $71 billion.
