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Obama Cites Auto Bailout as Model for Reviving American Manufacturing

Saturday, August 11, 2012

obama gm bailout

President Barack Obama said in two separate speeches in Colorado Thursday that what he did with the auto industry – a taxpayer bailout followed by bankruptcy and restructuring — “we can do it in manufacturing across America.”

This comes just a month after president called the auto bailout his theory of betting on American business.

Obama on Thursday did not mention a taxpayer bailout for other sectors of the manufacturing industry, but that is what the federal government did for General Motors and Chrysler when the two auto firms hit a financial crisis in 2008.

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