[W]e will not go back to an economy weakened by outsourcing, bad debt, and phony financial profits. . . Let’s never forget: Millions of Americans who work hard and play by the rules every day deserve a government and a financial system that do the same. It’s time to apply the same rules from top to bottom. No bailouts, no handouts, and no copouts.President Obama, in Tuesday's State of the Union Address:
On the day I took office, our auto industry was on the verge of collapse. Some even said we should let it die. With a million jobs at stake, I refused to let that happen. In exchange for help, we demanded responsibility. We got workers and automakers to settle their differences. We got the industry to retool and restructure. Today, General Motors is back on top as the world’s number-one automaker. Chrysler has grown faster in the U.S. than any major car company. Ford is investing billions in U.S. plants and factories. And together, the entire industry added nearly 160,000 jobs.It's like having two Presidents in one!
We bet on American workers. We bet on American ingenuity. And tonight, the American auto industry is back.
What’s happening in Detroit can happen in other industries.
(via reader Warren)