(CNN) - The American auto industry is on the rise again because of policies of the Obama administration that let American workers compete with the world, Vice President Joe Biden said Monday.
"You've got to take away the impediments," Biden told workers at a Chrysler plant in Toledo, Ohio. "You've got to give the American people an even fighting chance."
Critics of President Barack Obama's federal bailout of General Motors and Chrysler have been proven wrong, Biden said, noting the help has allowed both companies to rebound.
"The free enterprise system and private capital is the reason why this is coming back, but without a down payment by the American taxpayer, there would have been" thousands of jobs lost, he said.
Damn Right, Joe!
VP Biden is absolutely correct.
We'll see what happens to these car companies when TAX PAYER dollards are being used for
(a) Cash for Klunkers
(b) GOVT purchase of fleet of cars
With the unions in control of the companies, give it 12-18 months, they'll be in the ditch, again.
Better than the scab made rice burners they make in the South,hahaha
@DUMocRATS RECORD DEFICITS + TAXES, maybe this program should be repeated a few times over and in many different sectors of business manufacturing? If something works, try repeating the measure until it no longer works. At least those companies are still alive and in the black.
Well Joe, Ford did it without bailout funds, and Chevy paid the billions back with interest months after receiving. That means they didn't even need the money to begin with. The federal govt. didn't save anything, the hard workers of the USA bought the cars with incentives that they probably didn't need anyway to make the purchase affordable.
Right...Biden wouldn't know success if it dumped on his head. Union payoffs, taxpayer monies, fleecing of stock holders against their Constitutional Rights, and 10% plus unemployment. Gee what a success...No jobs means no money means no buy new cars..idiot!
This guy is amazing. I guess in Joe's mind this really is the Summer of Recovery. I can't believe anybody to include the media listens to him. He is not helping our President and should be replaced with Hillary. Hopefully that does 2 things. Gets rid of this moron and gets the President some much needed help and experience. R. Emanuel do your job and get this idiot off the stage.
Would not buy a union made car. Would you believe the bigots like Rush Goebbels@ that seem to have to demean and degrade hard working American taxpayers? Anything that has a union label has been bailed out and is due for another bankruptcy. As for Biden, are we enjoying the "summer of prosperity yet" and now that the stimulus money has been handed out to the union bosses when might we expect that unemployment rate will fall to 8% like you said it would never go above if Congress stole the money from us.
Just because Obama kept 100,000 people from getting laid off isn't such a big deal. Just because this kept whole towns solvent doesn't mean anything. Let's focus on the negative if it can be found. If it can't be found we can change the subject or make something negative up out of thin air.
Hey, the people of Michigan will vote Republican big time if this was bad to bailout the auto industry, and they'll vote Democratic if they think it was a good idea. We'll just see in November if they thought it was a good or bad thing. If you aren't from Michigan, there isn't a whole lot to do but be a Monday morning quarterback. But that is what we do here, waste time and blow off steam. We are, all of us posters, a bunch of losers. You know that, right?
Good job Joe.Sounds like Keith the midget,is getting upset.As Cheney would say,"SO",HAHAHA
Wow. This guy actually believes the words that flow from his pie hole.
He's only a heartbeat away boys and girls.
Private industry does not need tax money, and the best-made cars are made by workers in other countries where there are either no unions or reasonably cooperative unions.
DON'T TAX ME TO SUBSIDIZE YOUR JOB!
GM could bankrupt again. After everyone saw what happened to the GM bondholders last year, I don't see anyone buying bonds or stocks. Besides the 60 or 70 Billion they owe America, they also still have a unfunded 17 BILLION dollar payment to make to the union pension fund.
GM recently spent a few billion of our tax dollars to refurbish a factory in Mexico because "those jobs needed to be preserved"
GM recently used our tax dollars to buy out a lending agency that specializes in "subprime loans for people who otherwise could not afford to buy a new car" Isn't that type of thinking what got our country into this financial mess we are in when the banks were forced to make home loans to people who couldn't pay them back?
No Joe you haven't made things better.........
Leave it to a liberal Democrat Administration to try and convince America that it's the Federal Government's job to pick winners in private industry using taxpayer money. Both GM and Chrysler did go bankrupt and people forget that. Investors, ( many of them small ) and taxpayers got screwed and the unions won.
There are other, better more efficient and innovative American auto companies that would have taken the place of GM and Chrysler. These are obviously not the best Americans can do in the 21st century, but thanks to the Democratic administration, this is what we have got. In the end it will have been a counter-productive bad decision that was not good for the American economy.
The bailout was to save the union. It's payback for union support of the democratic party.
I am sorry but this man is delusional. They set up a forced bankruptcy with a rigged court that did Obama's bidding, and everyone got taken to the cleaners except the unions. They proudly announce they are paying back some of the money early without saying it was from a different government bailout fund. I will never buy another GM product ever and was forced to trade my new one at a big loss because it was one they decided to stop making. So don't talk about how great the govt policies were because you set and changed the rules from long standing practises to suit your own administration and what you thought would benefit your own agenda.
Had Obama not bailed out U.S. Auto Makers, millions and millions of Americans would have lost their jobs in the Auto Industry.
Now GM & Ford are doing a heck of a lot better posting PROFITS and GM has paid the government back!
OBAMA SAVED THE U.S. AUTO INDUSTRY! BRAVO MR. PRESIDENT!
SOMEONE has to speak up and give credit where credit is due! All you hear is the Republicans howling about nothing but negative stuff that doesn't even exist. President Obama has done wonders fof this country without one THANK YOU. Vote out the party of NO in November! They are useless.
I'll never buy another GM as long as Obama is the defacto CEO.
What the Obama Administration needs to do is, take every Republican recorded statement against the car bailout and just keep repeating it! Repeating it, Repeating it!
The Republicans made a big mistake betting against America.
I see no reason why the America people should vote for Republicans, and they tell us that:
1. They don't believe in Government.
2. They Don't believe in the American Middle-Class
3. They believe the wealthy should be protected from the American unwashed Middle-Class.
4. They are anti education because that would interfere with their home grown propaganda and fear-mongering
5. They are anti females having equality and control of their own body.
A Republican vote is a self destructive vote.
Yes, Obama is vacationing his way to success all over the place. Or as Bill Clinton would tell you "It depends on what your definition of the word 'success' is". (Apologies to Mr. Clinton)