Obama raises cash, touts auto bailout in Michigan stop
April 18th, 2012
07:50 PM ET
10 years ago

Obama raises cash, touts auto bailout in Michigan stop

Dearborn, Michigan (CNN) - On a stage adorned by some of the American car industry's most historic artifacts, President Barack Obama on Wednesday vigorously defended his 2009 authorization of the massive auto bailout and indirectly jabbed at his all-but-certain GOP rival for opposing the plan.

"Change is the decision we made to rescue the American auto industry from collapse when some politicians said, 'Let Detroit go bankrupt,'" Obama told an enthusiastic crowd of 600 supporters at the Henry Ford Museum just west of Detroit – a city with an identity and economy that has long been intertwined with the auto industry's biggest names.

The remark was a clear reference to Mitt Romney, who announced his first bid for president on the same stage in 2008. The former Massachusetts governor, who was born in Michigan and whose father was a former auto executive and governor of the state, opposed the bailout, saying a structured bankruptcy could have achieved the same result without the massive cost to the U.S. government. Moreover, he has argued the Obama administration made too many concessions to auto unions as part of the bailout.

It was no coincidence the president devoted the most significant portion of his 20-minute speech to the subject, a decision that remains a popular one with Democrats and Republicans alike here. His re-election effort, which a Michigan Obama official said just opened its 10th office in the state, is banking on that decision to keep the traditional swing state safely in the president's column in the fall.

Still, a recent analysis by the Detroit Free Press showed Romney edging the president in fundraising from Michigan donors thus far, one signal that the Romney campaign is well-organized to contend there. But the Romney campaign did not keep any staff in the state after its win in the Republican primary two months ago. Nevertheless, a Romney spokesperson vowed the campaign will open an office soon and is "ready to hit the ground running."

The president couldn't have picked a more fitting venue in which to make his argument, just feet away from some of the most historic automobiles in American history, including the limousine President Kennedy was assassinated in and the once-segregated bus Rosa Parks made famous. Also featured nearby was an exhibit entitled "Made in America" featuring some of the country's most famous automotive entrepreneurs.

"You look at the amazing cars in this museum and you are reminded that part of what makes this country strong is making stuff," Obama said, referencing the exhibits. "I want to invent and sell American products all across the world."

According to a campaign official, most supporters paid $250 to attend the event, while some paid significantly more for a private reception with the president. A more intimate reception will follow at a private residence in Bingham Farms, Michigan, where 47 people – each of whom paid $10,000 – are expected to attend, according to the campaign official. All told, the president is likely to rake in close to $1 million for his campaign and the Democratic National Committee.

Obama, who named Romney directly in a speech late last month, refrained from mentioning his rival this time. But the references appeared clear to the crowd, some of whom could be heard mumbling the Republican's name themselves as Obama spoke.

Wednesday's fundraisers come on the heels of the Obama campaign's announcement that it raised $53 million last month, $8 million more than it took in February.

Filed under: 2012 • President Obama
soundoff (5 Responses)
  1. Hammerer

    oboma touts the auto bailout with the claim that GM is making money and will repay the government back. What about the millions of stock holders that lost billions of dollars in the bankruptcy. Millions of middle income workers lost most of their retirement funds. The unions and the GM brass got rich, but the middleclass worker that oboma claims to fight for took it on the chin as usual.
    How can he claim that he is for the middleclass with a record like this?

    April 18, 2012 08:32 pm at 8:32 pm |
  2. Jan930

    President Obama-2012

    April 18, 2012 08:43 pm at 8:43 pm |
  3. Just Say No to Flipper Rmoney

    Michigan can't stand Rmoney. Hope he wastes a ton of money there.

    April 18, 2012 09:02 pm at 9:02 pm |
  4. gt

    da.... thats what happen ... gm and chyrsler when belly up and started over...ck your old gm stocks...

    April 18, 2012 09:17 pm at 9:17 pm |
  5. RH

    Mr. Hope and Change wants to create a nation humbled; humiliated, casting-aside capitalism and individual freedoms for one where “we the people” are government controlled. This would be a system that genuflects mediocrity, steals personal aspiration and opportunity, and punishes those who strive to succeed.

    A gallon of regular gasoline the day Obama was inaugurated was $1.79 on average in the U.S. Today that price is $3.59, a 100.6% increase. The number of food stamp recipients has risen since Obama took office from 31,983,716 to 43,200,878, a 35.1% jump. Long term unemployment soared 146.2% during the same 32 month period from 2,600,000 to 6,400,000. Staggering “hope and change” isn’t it?

    American citizens living in poverty have risen 9.5% from 39,800,000 to 43,600,000, and the number of unemployed has jumped almost 25% from 11,616,000 to 14,485,000 as of August 31, 2011. The number of unemployed blacks has risen from 12.6% at the end of George Bush’s term to 15.8% today, a 25.4% increase, and finally, our national debt is up 34.4% from 10.627 trillion to 14,278 trillion *

    April 18, 2012 09:23 pm at 9:23 pm |