July 30th, 2010
03:11 PM ET
12 years ago

Obama says U.S. auto industry 'growing strong' after bailout

ALT TEXT

President Obama speaks at a Chrysler plant in Detroit, Michigan on Friday. (PHOTO CREDIT: Getty Images/AFP)

Detroit, Michigan (CNN) - President Barack Obama, speaking at a Chrysler plant here Friday, praised the recovery of the embattled U.S. auto industry and celebrated the tough choices he says made a comeback possible.

"Last year, many thought this industry would keep losing jobs, as it had for the better part of the past decade. Today, U.S. automakers have added more than 55,000 jobs since last June," said Obama.

He said both Chrysler Group LLC and General Motors Corp. have rebounded from the depths of their government-brokered bankruptcies and are back on track to grow.


Obama was scheduled to tour a GM plant later in the day, where he will also likely make the case for why the federal government's investment in the auto industry was a wise move.

In the 12 months before he took office, he said the U.S. auto industry had lost hundreds of thousands of jobs and had seen its sales drop 40 percent.

Obama cited estimates that suggest more than 1 million people would have lost their jobs if Chrysler and GM, two of the three big U.S. automakers, had been allowed to liquidate.

Ford Motor Co. was the only one of the so-called "Big 3" that did not take a government bailout.

"Today, this industry is growing strong. It's creating new jobs. It's manufacturing the fuel-efficient cars and trucks that will carry us toward an energy independent future," said Obama.


Filed under: Auto Bailout • issues • Michigan • President Obama
soundoff (79 Responses)
  1. NVa Native

    sure are a lot of Repubots out there saying the same tired lies – so in your fanatsy world tax subsidies and wars are free?? Or are you really that stupid?

    July 30, 2010 04:17 pm at 4:17 pm |
  2. Jeff Brown in Jersey

    Thank you for your leadership Mr. President!

    July 30, 2010 04:17 pm at 4:17 pm |
  3. Marcus

    OBOZO – there were interests, which means that the money was LOANED and was already paid back...
    Please check the facts before lying or saying baseless claims.

    July 30, 2010 04:18 pm at 4:18 pm |
  4. Liar-in-Chief

    Obama the liar. He lies about GM. He lied about SNOOKIE!

    July 30, 2010 04:19 pm at 4:19 pm |
  5. Marcus

    Hammerer – Please tell us WHERE did you got those numbers. No, honest, WHERE DID YOU GOT THEM?

    July 30, 2010 04:22 pm at 4:22 pm |
  6. Lando

    Why can't you Republibans admit that these bailouts are the result
    of your party's years of destruction of the economy. FOOLS.....IDIOTS

    July 30, 2010 04:25 pm at 4:25 pm |
  7. Fan of Common Sense

    Yeh. If you pump BILLIONS of dollars of TAXPAYER money into a company, of course it will grow......that is until it needs ANOTHER government bailout in a year or two.

    If we would have let the auto industries fall victims to their own bad managent and union greed, sure, a lot of people would have lost their jobs, but the auto companies would have reinvented themselves and become more efficient. By bailing them out, all we did was reward bad management, put off the inevitable, and drove up the national debt. This all proves one thing: Obama is either a moron or he's more interested in getting re-elected than fixing problems.....or BOTH!

    July 30, 2010 04:28 pm at 4:28 pm |
  8. Dominican mama 4 Obama

    @Phoenix 1086 July 30th, 2010 3:20 pm ET

    Do you think that it was possibly opposed as the coffers are dry and the GOP is forcing the Dems to Pay as you go?
    --------------------------------

    The old RethugliKKKlan pat answer for blocking any and everything of "Pay as You Go" holds absolutly NO WATER. Did Bush the Shrub Paid as He Went vis-a-vis the off-the-books war in Iraq. Never mind the fact that we should not have gone to war with them in the first place? TRILLIONS UPON TRILLIONS of dollars that were not even LINE ITEMED on the budget went to that war under him.

    Pay as You Go. Yeah, right. RethugliKKKlans will ALWAYS find money for two things: the ALREADY WEALTHY, and WAR.

    July 30, 2010 04:28 pm at 4:28 pm |
  9. Silence DoGood

    If he hung up a "mission accomplished" sign, when it isn't, wouldn't that be a nice touch?

    Then we would know for sure America has a one-party system.

    July 30, 2010 04:29 pm at 4:29 pm |
  10. Stephanie Portalnd

    To Orlando Patriot:

    I find it interesting that someone who 'teaches economics' would state with absolute authority that it was 'FDR 's policies of massive government stimulus' beginning in 1929 that 'caused' the Great Depression. In 1929. FDR wasn't elected until 1932. Almost 3 years into the Great Depression

    If you can't even get this very simple fact straight, one has to wonder how much else in your rants is at the very least ill informed and at the most intentionally false.

    Just a thought.

    July 30, 2010 04:29 pm at 4:29 pm |
  11. Enough

    Are you fools really buying this crap? This was nothing more than a Union bail out while Mr. Anti business Obama is clueless about the REAL world, since he never worked a real job ever and can't possibly understand how business works...........big, bad evil business that this president despises. Bragging while the unemployment sky rocketed on his watch, jobs lost that won't return until he is out of office.

    July 30, 2010 04:32 pm at 4:32 pm |
  12. vic

    Republicans grow up I was against for auto bail out Obama bail the auto industries he was right He saved the auto industries he saved our name brands

    July 30, 2010 04:32 pm at 4:32 pm |
  13. mj

    Why is he not visiting Ford? Oh, right, they did it on their own. No Government Bailouts. So ... I'm sure everyone has ordered their new VOLT. What a joke.

    July 30, 2010 04:33 pm at 4:33 pm |
  14. Gary

    The only way that the auto industry can make a comeback is to improve design and product quality and to automate their plants to lessen the impact of the unreasonable Unions. A company simply cannot have a worker start there at 20 years of age retire at 55 with 35 years and support a person until they are 90 (including health benefits)....we all are living longer and we all are going to have to work until we are like 75 years old. It's not that I like it, it is the only way that social security or the auto industry can survive. The president did a disservice to the nation and the auto workers by wasting nearly $200 billion of tax payer money on failed bailouts of GM and Chrysler. I would encourage people to consider buying a Ford!

    July 30, 2010 04:34 pm at 4:34 pm |
  15. NVa Native

    "tea-tards" .... I love it!
    These people repeating over and over all the mis-information and out-right lies about Obama are amazing. They must think they can spin the world backward and stop time. Or maybe if spin it fast enough it will earse everyones memory of how good we had it under Republican rule for eight years and all the amazingly positive results?! LOL

    Obama has thwarted the destruction of America without any help from the Republican minority in Congress.

    That is the truth.

    And these swamp creatures try to spin it backwards like he's to blame for all the crap he just fixed in only eighteen months. And they are delusional enough to think the rest of the country will swallow thier line of crap.
    Why are the tea-tards so fearful and weak that every thing scares them? Why do they hate America?

    July 30, 2010 04:34 pm at 4:34 pm |
  16. Shawn-GA

    What should scare the Democrats is that there is going to be a Democrats in the primaries to challenge the sitting President. Once he/she gets through the primaries, Obama is going to have to sit and watch for over a year as he is in the White house and knows that no one wants him there... I actually feel bad for him, how embarrassing that is going to be for him and his family.

    July 30, 2010 04:35 pm at 4:35 pm |
  17. mike

    for all the idiots out there who like to work for crap wages keep on working until you are dead but for the real americans that are looking for a better life this is great. you see the scum bags that work and don't pay taxes and the small business owns who don't pay there fair share in taxes can't complain because they don't put anything in to taxes but when they want protection from the government they want it all well its about time you pull your own weight and stop sucking off the government

    July 30, 2010 04:36 pm at 4:36 pm |
  18. J-wowww

    Phoenix86, when you and 'Weiner" get through your little blind tirade, please recall that the DEMS own Congress and the Presidency and there is NO WAY the GOP can stop any votes in either chamber. THE DEMS OWN IT!

    July 30, 2010 04:37 pm at 4:37 pm |
  19. Bill

    Of course he said that, no one wants to look like a fool. How many of the laid off autoworkers have returned to work? How many of those displaced due to dealership closures have been returned to work? Goverment Motors does not care one bit about you.... Even their new CEO knows nothing about making cars.... Would you want a proctologist to do brain surgery?

    July 30, 2010 04:37 pm at 4:37 pm |
  20. Steve (the real one)

    Dutch/Bad Newz, VA July 30th, 2010 3:43 pm ET

    People may have not liked the auto bailout, but it worked for the better. Now we need to look forward to which automaker to saboutage next. We've got Toyota out of the picture. Nissan looks like a good target
    ----------
    So what your saying is you want to kill American jobs? Americans work for Nissan AND Toyota! Americans build them, sell them and maintain them! Why, just because they are not unionized plants? What's this "WE'VE" stuff? The only thing "WE'VE" done is sit behind a computer screen and rant!

    July 30, 2010 04:38 pm at 4:38 pm |
  21. Bill

    NVnative – read your post and have a look at the hate you spew. You say the conservatives in this country spew hate ... look at yourself!

    July 30, 2010 04:38 pm at 4:38 pm |
  22. kakaraka

    It seems like you morrons republican right wing tea baggers don't get the notion of bailout. Since you don't know this, let me explain to you: bailout is not a free money given to the auto and bank industry to save the economy, rather it's a loan and investment in those companies by the federal government in ortder to save them for total failure partly caused by the desastrous economic policies of George Bush. It's a wise use of the taxpayer's money by the government. All these companies that received the bailout fund would repay them back to the taxpayer with interest. This is a pretty good investment by the government, isn't it? Only you morron republican no sayers can see otherwise. Clueless ignorant republicans teabaggers. wake up people.

    July 30, 2010 04:42 pm at 4:42 pm |
  23. stormerF

    What would Obama say? They screwed up,by giving GMAC a BAilout how much have they returned of the 8.6 billion? Like WEINER,blaming the Republicans when the Democrats have had the 911 first responders bill for 3 years and have diddled with it and yet with the Majority in the house they still can not enough Democrats to vote on it because they added an amendment about immigration to it. The house has over 40 more Democratic seats yet can not pass the bill,So why is Weiner Blaming the REpublicans,because he knows the Bedwetters will believe what he says and not do the research themselves.

    July 30, 2010 04:42 pm at 4:42 pm |
  24. Tinkers Dam

    The Obamatard flooded the economy with money. This money is already drying up. The money was going to keep unemployment in check. The economy is slipping back where it was a year ago. I can already here the Obamabots saying it 's not our fault. Blame it on Bush. The Obamatard is a failure and all you who drank the kool-aid are to blame.

    July 30, 2010 04:43 pm at 4:43 pm |
  25. Vic

    Lets not forget that the money used to bail these companies out is getting repaid....its not like he gave it away, IT WAS A LOAN PEOPLE!!

    July 30, 2010 04:49 pm at 4:49 pm |
1 2 3 4