President Obama Vows Not to Walk Away From Auto Industry

One of the highlights of the delivery that President Obama gave to the joint session of congress was a vow not to walk away from the automotive industry. The tone seemed directed at the American infrastructure of the automotive industry which directly includes the suffering Big 3.

The points that were brought out by autonews and others in the automotive industry were the positive inspirational parts of the speech saying, “We will rebuild, we will recover, and the United States of America will emerge stronger than before.” Then later a specific address was directed towards the automotive industry having an obvious effect on the economy where the President said, “As for our auto industry, everyone recognizes that years of bad decision-making and a global recession have pushed our automakers to the brink. We should not, and will not, protect them from their own bad practices. But we are committed to the goal of a re-tooled, re-imagined auto industry that can compete and win. Millions of jobs depend on it. Scores of communities depend on it. And I believe the nation that invented the automobile cannot walk away from it.”

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Bailout or Bust: GM Reaches Out For Aid Through YouTube

Bottom line from the US Automakers: Pay $25 billion now or risk over $150 billion with millions of jobs lost later if nothing is done. Pretty serious if you ask me!

GM produced a video just recently that features the automaker’s Facts and Fiction website where they paint a not-so-pretty picture of how the domestic auto industry effects our nation including nation security and economic security. Even though the American auto industry employs about 239,000 people it would reach far more than that when you think about the suppliers and dealerships, and that’s just for the big 3 automakers.

I welcome you to watch the video below and let us know what your thoughts are. Speak your mind and don’t hold back!

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