Obama Touts Auto Industry Bailout

Topics:  President Barack Obama

VOA Breaking News (Voice of America)
November 23, 2010 at 8:45 pm

U.S. President Barack Obama is touting the success of the government’s restructuring of the auto industry last year, noting that the three biggest American car companies are once again profitable and growing.

In a speech Tuesday to auto workers at a Chrysler plant in the industrial town of Kokomo, Indiana, President Obama said “never bet against the American auto industry.”

The White House says the government’s bailout of Chrysler, and additional economic stimulus money given to the state of Indiana, helped rescue Kokomo, which was once labeled one of “America’s Fastest Dying Towns.”

Mr. Obama noted that there was opposition to the government’s intervention in the auto industry last year. He says he knows today that it was the right decision.

Some information in this story was provided by AP.