WKYT | Lexington, Kentucky | News

Obama plays up auto industry success story

Obama says the U.S. auto industry is back, and GM's success shows what's possible for American manufacturing. In a shot at Romney, who opposed the bailouts, the president said: "It's good to remember the fact that there were some folks who were willing to let this industry die."

The White House points to the auto industry as an economic success story. GM and Chrysler were on the verge of collapse when they received billions in loans from the Bush administration. The following year, Obama pumped in billions more.

The Detroit companies have since turned profits and rehired workers.

Associated Press

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

Comments are posted from viewers like you and do not always reflect the views of this station.
powered by Disqus


2851 Winchester Rd. Lexington, Ky 40509 859-299-0411 - switchboard 859-299-2727 - newsroom
Register for Email
RSS Feeds
Copyright © 2002-2015 - Designed by Gray Digital Media - Powered by Clickability 138423954 - wkyt.com/a?a=138423954
Gray Television, Inc.