• Jul 30, 2010
You don't have to be a pollster to know that for the most part, the American public remains none too happy about the federal government handing over the people's hard-earned tax dollars to pull General Motors and Chrysler out of the fires of insolvency. Despite the fact that both companies have managed to keep their lights on, doors open and paychecks flowing due to their generous federal loans, Joe Plumber still can't stand the thought of paying the price of the two companies' failures. With midterm elections right around the corner, President Obama is in Detroit to attempt to sway that opinion.

The Commander-in-Chief will speak to crowds at Chrysler's Jefferson North plant about the positive side of loaning close to $85 billion to two of our country's largest automakers, including the fact that in 2010, the Big Three have re-hired a total of 55,000 of the 334,000 workers it sent packing a year prior. That may seem like a fraction of the total, but the President is certain to point out that without the loans, that job loss figure would have been much higher.

And then there's the matter of getting the federal government's money back. President Obama is also focusing on sharing his belief that a large majority of the country's money will be returned once GM and Chrysler go public once again.

Interested in keeping tabs on Obama's visit to Motown? The Detroit Free Press has a liveblog that you can follow along with (including live audio) by clicking here.

[Sources: Bloomberg, Detroit Free Press | Image: Jim Watson/AFP/Getty]


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  • 133 Comments
      michael
      • 4 Years Ago
      Yeah, of course Mr. Obama is going to say the automobile bailouts worked.....what the hell do you expect him to say? Mr. Obama knows how to speak but does he know how to lead?
      • 4 Years Ago
      Hey you Ford lovers...

      Ford got bailed out by the banks who gave them a huge credit line.

      Guess who bailed out those same banks?

      So indirectly, taxpayers still bailed out Ford.
      • 4 Years Ago
      Would Ford have survived had GM and Chrysler have collapsed?
      Lawrence Phoenix
      • 4 Years Ago
      The Obama haters sure can flat out deny the reality that Government lifelines have kept this country from total collaspe the last 2 years but what in their heart of heart's is what really kills'um...Their old lady would sleep with Obama and kick their sorry ass to the curb in a hot second..an knowin' that enrages them..
      AdiosObama
      • 4 Years Ago
      Obama for offshore drilling in Brazil
      This is a perfect example why many refrain from watching the news on ABC, NBC, CBS, or MSNBC.
      Today on a segment of the "Glen Beck Show" on FOX (Fox Cable News) was the following:
      "Today, even though President Obama is against off shore drilling for our country, he signed an executive order to loan 2 Billion of our taxpayers dollars to a Brazilian Oil Exploration Company (which is the 8th largest company in the entire world) to drill for oil off the coast of Brazil ! The oil that comes from this operation is for the sole purpose and use of China and NOT THE USA ! Now here's the real clincher...the Chinese government is under contract to purchase all the oil that this oil field will produce, which is hundreds of millions of barrels of oil"..
      We have absolutely no gain from this transaction whatsoever!
      Wait, it gets more interesting.
      Guess who is the largest individual stockholder of this Brazilian Oil Company and who would benefit most from this? It is American BILLIONAIRE, George Soros, who was one of President Obama's most generous financial supporter during his campaign.
      If you are able to connect the dots and follow the money, you are probably as upset as I am. Not a word of this transaction was broadcast on any of the other news networks!
      Forward this factual e-mail to others who care about this country and where it is going. Also, let all of your Government representatives know how you feel about this.
      Below is the Wall street Journal article to confirm this. http://online.wsj.com/article/SB10001424052970203863204574346610120524166.html

      • 4 Years Ago
      iam late on my payment with gm. iam called every 4 hrs from someone from the philillpeans
      • 4 Years Ago
      Like other posts, It was a move but I felt it was a no brainer. To leave all the workers out for dead. Then what would everyone have said? Besides, put a foot up GM's ass finally and we get some great cars like the old days. Good Luck to all American car companies.
      14derd
      • 4 Years Ago
      Obama you`re still smoking crack my man, where`s my job and the other 9.6 of the population looking for work. Uh...I think those $85 billion did not help any of us, and you are bragging about 55,000 rehired jobs(in case you did not notice the word rehired, which means you did not create any jobs). The way you are taking care of bussiness in the white house I recomend you not to make a fool out of your self and the democratic party and try to run for president again.
      • 4 Years Ago
      Govt funded programs DO NOT improve the economy!!! They are funded with TAX DOLLARS!!! They DONT "PRODUCE" A THING!!!
      bob parks
      • 4 Years Ago
      Obama is the worst president in modern times. A total disaster. Even worse than Jimmy Carter which takes some doing. He can't be gone soon enough. It will take this country decades (if ever) to recover from this nightmare.
      • 4 Years Ago
      Why on earth are they wearing goggles that clearly do nothing?
      • 4 Years Ago
      I think I will comment only to comment that arguing politics is always a waste of time.
        • 4 Years Ago
        Arguing politics *on a message board* is a waste of time.

        In person, in an environment where all "sides" are willing to listen to and respond - not react - to each other, and where all are interested in solutions and progress, it's extremely valuable. Of course, such contexts are exceedingly rare.
        • 4 Years Ago
        And so ends the lesson. Clear, concise and straight to the point.
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