CHICAGO — President Barack Obama on Thursday told workers at a Chicago Ford plant that his bailout push helped save an “industry on the brink.”
“I put my faith in the American worker,” Obama told a throng near the plant’s assembly line. “All three automakers are now operating at a profit. That’s the first time it’s happened in six years.”
Obama also announced a $250 million import-export loan guarantee for Ford, which he said will help the company export hundreds of thousands of vehicles.
“We’re tired of buying from everybody else,” Obama said to loud applause.
Obama spoke to a crowd of about 1,700 at the plant, touting fuel-efficient vehicles and jobs before spending the afternoon raising an estimated $2.5 million in campaign cash from Democratic donors.
Pointing out that not everybody shared his commitment to the American auto industry, Obama said “some were ready to walk away” when the Big Three were floundering during the recession, with GM and Chrysler in danger of collapsing.
“That’s not how you build a better future,” he said.
Now, with Ford adding jobs at the Chicago plant, the wisdom of his decisions is being borne out, Obama said.
“I put my money on the American worker,” he said.
Ford did not take bailout money, but Obama argued the company benefited from a resurgent industry after General Motors and Chrysler got federal help.
