Obama: GM’s survival was necessary for the U.S. economy

Posted: Sep 16, 2009
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During his visit to General Motors Company’s Lordstown Assembly plant yesterday, President Barack Obama told about 2,200 workers that GM’s survival was essential to the U.S. economy.

“I didn’t run for President to manage auto companies. It wasn’t something on my to-do list,” Obama said. “But in the midst of a deep recession and financial crisis, the collapse of the auto industry would have caused enormous damage to our economy. So we intervened for one simple and compelling reason: your survival and the success of our economy depended on it.”

He went on to defend the $50 billion investment his administration made in GM.

“Our belief was that if GM retooled and reinvented itself for the 21st century, it would be good for American workers, good for American manufacturing, and good for America’s economy,” Obama said. “I’m pleased to report that’s exactly what’s begun to happen at this plant and at others.”

He said that he wouldn’t stop working until all Americans could find a job. “As long as you’ve still got an ounce of fight left in you, I’ll have a ton of fight left in me,” Obama said.

- By: Stephen Calogera

Source: Detroit News


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  • zermatt

    As a payback to the unions, the President went against common sense and dropped billions of dollars into failing companies. If the President wasn't interested in running GM he would have insisted on the money given to GM would have remained as loans with a firm payback schedule.

    Ownership provides the opportunity to control GM and implement social re-engineering, too.

  • Pat

    even if that is true. i dont like the sound of it

  • Name

    Are you an operative for the Chinese? or maybe you'd prefer that the USA have to auto companies? Right, that's it – we can just get our tanks, armored vehicles etc from China. Better yet we can send you in a Kia Sorento, great idea! It's backwards thinking that got us here in the first place. Oh, sorry you know all about backwards thinking. Be a real American and stop with the quitter attitude!

  • zermatt

    You are a union member, I understand where you are coming from.

    A true American looks for a way to create an advantage and not live in the past or demand that things remain the same. Unions have no incentive to give up anything or make any sacrifice to regain jobs.

    I am working towards increasing exports and to establish operations in other countries (you know, bringing the profits back the the US?). In order for that to happen you have to allow trade with those countries. If you want to have more success in the US you have to make yourself more competitive. That won't happen by being protectionist and hanging onto status quo labor policy.

    I feel sorry for you because you have no idea as to how the real world works. You only know what the union tells you and to think you pay them to tell you what to think.

    Good luck to you.

  • Name

    Are you an operative for the Chinese? or maybe you'd prefer that the USA have to auto companies? Right, that's it – we can just get our tanks, armored vehicles etc from China. Better yet we can send you in a Kia Sorento, great idea! It's backwards thinking that got us here in the first place. Oh, sorry you know all about backwards thinking. Be a real American and stop with the quitter attitude!

  • zermatt

    You are a union member, I understand where you are coming from.

    A true American looks for a way to create an advantage and not live in the past or demand that things remain the same. Unions have no incentive to give up anything or make any sacrifice to regain jobs.

    I am working towards increasing exports and to establish operations in other countries (you know, bringing the profits back the the US?). In order for that to happen you have to allow trade with those countries. If you want to have more success in the US you have to make yourself more competitive. That won't happen by being protectionist and hanging onto status quo labor policy.

    I feel sorry for you because you have no idea as to how the real world works. You only know what the union tells you and to think you pay them to tell you what to think.

    Good luck to you.