An excerpt from a USA Today column by UAW President Bob King:

The bankruptcy restructuring of General Motors (GM) and Chrysler in 2009 through the creation of new companies formed with assets purchased from those troubled companies was highly successful. Today GM and Chrysler are profitable, investing in America and creating jobs.

President Obama's decision to act to save GM and Chrysler prevented an economic catastrophe that would have thrown the nation into a full-blown depression and resulted in dozens of additional bankruptcies in the auto industry and across industrial America. Instead, the auto industry today accounts for an outsized share of economic growth and is helping lead our nation's economic recovery.

Yet, for political critics of the Obama administration, this achievement, completing a process started by President Bush, is barely worth mentioning.

Read the rest of King's USA Today column here.