A new series of evaluations of Obama's presidency. The first mark: Auto Bailout.
#1 and these will come in no particular order but they need to be recorded and lauded. As the first Black American to be president of the United States, Barack Obama has faced more, nay, MUCH MORE, that his fair share of criticism. And ironically it has been shielded from much critical review under the guise of "fairness". It's time to put some of the major accomplishments on the table, and the current Detroit Auto Show is the perfect opportunity to start.
Without the interest and intervention of the Federal Government there would doubtless never again be a Detroit Auto Show. The buzz around this year is all USA. Ford, General Motors, and even Chrysler can thank their lucky stars that Obama is president and issues larger than profit/loss like national security matter. The Republicans argued for letting the market bury American auto manufacturing. Most vociferous were Republican Senators from places like Alabama that have a huge stake in foreign auto plants and the sales of their products.
Yet, in this climate of anti-American manufacturing, Obama prevailed. General Motors Co.'s early payback of $6.7 billion in government loans0--five years ahead of schedule--and Chrysler Group's operating profit for the first quarter of 2010, all coupled with the auto industry's strongest employment growth in a decade, contribute to this first report card mark.
Grade on this one? A
Wednesday, January 12, 2011
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