Post by TonyV on Mar 3, 2012 15:22:39 GMT -5
Talking Points: Federal Loans and the Resurgence of the American Auto Industry
• millions of Americans the domestic auto industry isn’t just a business or an industry, for many of us it’s a way of life.
• For generations of auto workers, were taught that if we worked hard and played by the rules that we would be able to live the American dream. Just a few years ago, that way of life almost ended.
• The truth is that every one of these Republican candidates opposed the auto industry restructuring should know better, but it’s clear that he lost his way. It’s one thing that a son of Detroit went on to make a career as a corporate raider, sending good paying American jobs overseas. It’s another thing that he came out swinging against the auto industry when the auto industry needed strong voices of American leadership most.
• If Mitt Romney had had his way, the American auto industry would have collapsed – end of story. This city, this state and this country would be a very different place without the 1.4 million jobs that the auto industry supports. Those are good-paying American jobs that put food on the table, pay bill, buy homes and ensure that the American dream is alive.
• Now Mitt Romney tries to explain away his position and justify it. We’re used to that- he’s proven to be the type of politician that changes his positions with the political winds.
• President Obama stood up for us and stood with us and helped save the auto industry. Today, the big three are adding jobs, and Michigan’s is recovering from the recession at the second-fastest pace in the U.S. And America is once again a technological leader, emerging stronger and better able to compete.
Facts about the Big 3 and Federal Loans
• The President made a bold and, at the time, politically unpopular choice – he stood with the domestic auto industry, its workers and the communities whose economies depend on the industry, saving 1.4 million American jobs.
• By standing by a tough but fair restructuring, the President and his Administration helped provide the auto industry with a solid foundation to grow and prosper as the economy recovers.
• Chrysler and GM have repaid their loans to the U.S. Treasury, bringing the total amount of taxpayer dollars returned to $10.6 billion – which represents a full recovery on the resources committed by the Obama Administration.
• Chrysler’s repayment came more than six years ahead of schedule and less than two years after Chrysler emerged from bankruptcy.
• The American auto industry is mounting a comeback. Since GM and Chrysler emerged from bankruptcy through June, 2011, the auto industry added 115,000 jobs – the fastest pace of job growth in the auto industry since the 1990s.
• As a result of UAW collective bargaining this year, the domestic automakers will add another 20,000 direct manufacturing jobs through 2015. But it doesn’t end there. Auto manufacturing creates more jobs than any other industry and because of these jobs, a total of 180,000 jobs will be created in communities across America that have been devastated by Republican economic policies. The domestic automakers also committed nearly $25 billion in investment in plants and products through our 2011 collective bargaining agreements.
Investment/Jobs
GM $2.5 Billion/6,400 jobs
Chrysler $4.5 Billion/2,100 jobs
Ford $16 Billion/12,000 jobs
• millions of Americans the domestic auto industry isn’t just a business or an industry, for many of us it’s a way of life.
• For generations of auto workers, were taught that if we worked hard and played by the rules that we would be able to live the American dream. Just a few years ago, that way of life almost ended.
• The truth is that every one of these Republican candidates opposed the auto industry restructuring should know better, but it’s clear that he lost his way. It’s one thing that a son of Detroit went on to make a career as a corporate raider, sending good paying American jobs overseas. It’s another thing that he came out swinging against the auto industry when the auto industry needed strong voices of American leadership most.
• If Mitt Romney had had his way, the American auto industry would have collapsed – end of story. This city, this state and this country would be a very different place without the 1.4 million jobs that the auto industry supports. Those are good-paying American jobs that put food on the table, pay bill, buy homes and ensure that the American dream is alive.
• Now Mitt Romney tries to explain away his position and justify it. We’re used to that- he’s proven to be the type of politician that changes his positions with the political winds.
• President Obama stood up for us and stood with us and helped save the auto industry. Today, the big three are adding jobs, and Michigan’s is recovering from the recession at the second-fastest pace in the U.S. And America is once again a technological leader, emerging stronger and better able to compete.
Facts about the Big 3 and Federal Loans
• The President made a bold and, at the time, politically unpopular choice – he stood with the domestic auto industry, its workers and the communities whose economies depend on the industry, saving 1.4 million American jobs.
• By standing by a tough but fair restructuring, the President and his Administration helped provide the auto industry with a solid foundation to grow and prosper as the economy recovers.
• Chrysler and GM have repaid their loans to the U.S. Treasury, bringing the total amount of taxpayer dollars returned to $10.6 billion – which represents a full recovery on the resources committed by the Obama Administration.
• Chrysler’s repayment came more than six years ahead of schedule and less than two years after Chrysler emerged from bankruptcy.
• The American auto industry is mounting a comeback. Since GM and Chrysler emerged from bankruptcy through June, 2011, the auto industry added 115,000 jobs – the fastest pace of job growth in the auto industry since the 1990s.
• As a result of UAW collective bargaining this year, the domestic automakers will add another 20,000 direct manufacturing jobs through 2015. But it doesn’t end there. Auto manufacturing creates more jobs than any other industry and because of these jobs, a total of 180,000 jobs will be created in communities across America that have been devastated by Republican economic policies. The domestic automakers also committed nearly $25 billion in investment in plants and products through our 2011 collective bargaining agreements.
Investment/Jobs
GM $2.5 Billion/6,400 jobs
Chrysler $4.5 Billion/2,100 jobs
Ford $16 Billion/12,000 jobs