San Francisco (Obama.net)- At the beginning of his first term as President of the United States of America, Barack Obama instituted numerous bailouts for the auto industry. While most shook their heads at the thought of throwing billions of dollars at an industry that had been declining for decades, President Obama had confidence that the money would be used properly and bring the American auto industry back to greatness.
And Thursday, President Obama went home to Chicago and visited a Ford Motors plant to check on the progressions the industry is making. Of all of the major car companies in America, Ford was the only one not to take a bailout, so President Obama was especially interested to see how companies like GM and Chrysler, who he visited last week, have influenced the rest of the auto industry.
Obama, who himself used to be the owner of a Ford Motor vehicle, proudly said, “Ford has dedicated itself to increasing fuel efficiency on many models. The next generation Explorer is as much as thirty percent more fuel efficient.”
Thanks to Obama’s newly installed Department of Energy and their financial aid programs, the Chicago Ford Motors plant is now able to add 1,200 brand new jobs in the near future. This brings the total number of new auto industry jobs in the last fourteen months to 55,000.
Before Obama entered office, the American auto industry saw its sales fall by approximately forty percent and hundreds of thousands of people lost their jobs. Obama said that it was projected that over one million people would have been out of work had the bailouts not occurred.
Now for the first time in over five years, the American auto industry is back to making a profit.
During his tour of the plant, Obama expressed to the workers that “some thought we should just have walked away from the American auto industry. But that’s not how you build a better future and a better America. I put my money on the American worker. I place my bets on the American worker any day of the week. Because of your work and your sacrifice, the industry is growing. Each of you is proving naysayers wrong.”
Obama added that “The industry isn’t just on the way back, but is on the way to being number one again.”
While a year and a half ago the bailouts caused people to raise their eyebrows, today the citizens of the United States can look at President Obama and be certain that he made the correct decision that we will all be benefiting from shortly if not already for some of us.