In Chicago, Obama wraps up tour of Big 3 automakers with visit to Ford, continues fundraising
By Darlene Superville, APThursday, August 5, 2010
Obama boasts saving auto industry ‘on the brink’
CHICAGO — President Barack Obama declared Thursday that the U.S. auto industry is not just rebounding from its problems but on its way to being No. 1 in the world again.
His rousing pep talk to Ford factory workers came before he was heading into a night of high-dollar fundraising for the Democratic Party.
The president celebrated that the big three American automakers — GM, Chrysler and Ford — were all operating at a profit again. He described a remarkable turnaround for the car companies in an industry on the brink of collapse when he took office, thanks to federal taxpayer help and industry adaptation.
While Ford did not need to accept federal bailout funds like the other two companies, Obama said Ford still benefited because the government intervention helped prevent the loss of jobs and brand confidence throughout the entire auto supply chain. He spoke from a Ford plant in Chicago that is poised to add 1,200 jobs.
“I am convinced that we’re going to rebuild not only the auto industry but the economy better and stronger before,” Obama said. “And at it’s heart is going to be three powerful words: Made in America.”
