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Obama Cites Auto Bailout as Model for Reviving American Manufacturing

Saturday, August 11, 2012

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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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