In 2008, at the height of the recession, Mitt Romney declared that government should “
let Detroit go bankrupt
” rather than providing federal aid to automakers. President Obama was a lot smarter than that. As a result of federal assistance, General Motors (GM)
posted record profits
and paid back its loans early, Chrysler paid back all its loans and hundreds of thousands of U.S. workers are on the job who otherwise would be out of work (click on chart to enlarge).
Karen Eusanio, a UAW Local 112 member and second generation auto worker, is one of those workers. Speaking last night at the Democratic National Convention, Eusanio recalled her struggle to support her children after GM laid her off, and the unpopularity of Obama’s plan to save the auto industry. Yet, President Obama didn’t think about the polls or the politics, said Eusanio.
He thought about the people. Because he put himself in our shoes, we’re back on our feet. Obama believed in us, he stood up for us.