Biden: We saved auto industry from 'brink of extinction'

[cal04]

Source: Associated Press

Vice President Joe Biden on Saturday credited the Obama administration's intervention for the American auto industry's recovery from "the brink of extinction" and pointed to Chrysler's early repayment of the federal loan that saved it from disaster.

"This announcement came six years ahead of schedule — and just two years after Chrysler Corp. emerged from bankruptcy," Biden said in the administration's weekly radio and Internet address. "It's a sign of what's happening throughout the American automobile industry."

Biden also said that General Motors, which went through bankruptcy and has come back strong, announced in the past week that its Detroit Hamtramck factory in Michigan will run three shifts for the first time in its 26-year history.

"You know, that's 2,500 more good, paying jobs," he said.



Read more: http://www.msnbc.msn.com/id/43202466/ns/politics-more_politics/

[blueclown]

1. $14 an hour is not a good paying job.

Compared to the $28 an hour that existing GM factory workers make.

[nyy1998]

4. It's still better then no GM and no job

I agree it's not a good-paying job, but the situation could've been a LOT worst then before.

[Occulus]

15. That's the exact attitude that enables further pay cuts

It's not a good paying job, FULL STOP. No "but".

[DCBob]

2. Right on Joe!!.. make the Rethugs pay for their stupidity back then.

Thank God the President did not listen to those idiots.

[SkyDaddy7]

3. "SAY IT IS SO JOE!!" NT.

[sendero]

5. This is one of the few..

.... actual achievements of this administration.

Although you would have had to have been a high-order moron to not do it, they deserve their credit. After all, there were many other things you would have had to have been a high-order moron to not do that they in fact didn't do.

[Hubert Flottz]

6. I'd like to see a run-down on what politicians make an hour...

one that includes all the perks, kickbacks, stock market tips and regular pay...for the hours they are really at work.

I'll bet it's more than the UAW guys make.

[Kingofalldems]

7. Kick and Rec one time for the teabaggers

[JNelson6563]

8. Yes we did!

:toast:

[jillan]

9. Keep reminding everyone which party saved the US Auto industry. And which party could've cared less

if it went under... just as long as we saved the banksters.

[jmowreader]

10. Try again.

That other party was actively trying to get the auto industry to go under.

And the problem with it is, if the auto industry would have been killed by the Republicans it would have taken the banksters with it.

[Rex]

11. A little early for the door to door salesman.

:eyes:

[individual rights]

12. I don't see where he explained why these jobs were more important

to save than the jobs of other Americans.

[InkAddict]

13. Too bad he doesn't feel the same way about IT services

except where it benefits those TBTF banks.

[pitohui]

14. don't expect to get any credit for it, you can execute bin laden himself and get no credit

haters gotta hate, it doesn't matter how much you have accomplished

i don't know why it still stuns me to see that race trumps everything, and such things as killing bin laden, restoring the auto industry, etc...the haters and the loudmouths will NEVER give obama any credit because he's the wrong skin tone

he has really done a lot but do you ever hear a conservative effwit admit, 'hey, we were wrong about this guy, he's really brilliant'?????

[Sen. Walter Sobchak]

16. But nothing has really changed,

Chrysler and GM both remain plagued by moribund product lines, Ford still has a catastrophic debt load and can't make money selling small cars and Chrysler only continues to exist at the whim of the Italians.

I don't see how they aren't back on the brink inside of a decade.

[DeSwiss]

17. Well we'll give ya a medal Joe, but it'll be made in China. :-/ n/t

[defendandprotect]

18. We "saved" the CEO fat cats and their salaries/bonuses -- rather than workers/unions --!!

We should have nationalized the industry and started building electric cars --

and moving that industry forward!

We could be converting gasoline powered cars now instead of having them on the roads!!