May 23, 2013
President Obama's weekly address: Good news from the auto industry
President Barack Obama is using his weekly address to stress the importance of strengthening the rules governing the financial system while pointing to a recovering auto industry as evidence of improving times.
(AP) As Senate Democrats move toward a Monday test vote on a measure to tighten oversight of the financial sector, President Barack Obama says the recovery of U.S. automakers could be at stake.
In his Saturday radio and Internet address, he says the new financial rules would help prevent a repeat of the crisis that led to some desperate times for the car companies.
The President says that while the auto industry is on more solid footing, it will take more time for the overall economy to recover.
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