Ed. Note: Cross-posted with the Department of Transportation blog, Fast Lane.
Detroit is sacred ground for any transportation fan. It's the birthplace of the automobile, and of the freeway. A century ago, Woodward Avenue was the first street paved with concrete anywhere in the world. And every year, at the North American International Auto Show in Detroit, the world's automakers roll out their best new models and designs.
The Detroit Auto Show always offers an impressive display of innovation. But, when I attended in 2010, the atmosphere was subdued. A palpable cloud of economic uncertainty hung over the auto industry then. This year, however, the show has a different buzz. Today when I toured the exhibits, people were gathered not only to see the latest prototypes, but to celebrate the resurgence of the American auto industry.
The Motor City is back in business. And for that I am happy to extend my gratitude and my congratulations to President Obama.
When President Obama took office, America was staring down the worst recession since the Great Depression, a recession that hit our auto industry particularly hard. During the year before the President’s inauguration, this industry lost more than 400,000 jobs. Two great American companies — Chrysler and GM — stood on the brink of liquidation. President Obama had two choices: He could do nothing, or he could take action.
Had this Administration sat on our hands, a bad recession could have become an even worse depression. Right away, 1 million people would have been put out of work. America’s manufacturing sector would have spiraled into freefall.
Instead, President Obama said that if GM and Chrysler were willing to take the difficult steps of restructuring and making themselves more competitive, the American people would stand by them.
Fonte: White House