Barack Obama, Auto Industry Bailout | featured news

President Obama ripped Republican presidential nominee Mitt Romney on Friday for running a misleading TV ad implying that U.S. auto workers are going to lose their jobs because Chrysler is moving the production of Jeeps for Chinese consumers to China.

...The ad also comes on the heels of Mitt Romney’s mistaken claim in a speech last week that Chrysler was moving Jeep production to China — a statement immediately denied by the auto manufacturer. Yet the story apparently was too good for Romney to give up, because the ad repeats the claim, tweaked slightly to make it more accurate.

Romney has been consistent on his position that a managed bankruptcy was the best course of action. But he keeps digging a bigger hole for himself when he claims that the path he recommended — which included no public assistance — would have been successful from the start. Both Presidents Bush and Obama rejected that advice, and there is little evidence the industry would have survived without the breathing room provided by public funds.

In seeking support in Michigan, Obama speaks frequently about how the federal bailout of General Motors Co. and Chrysler Group led to GM's resurgence as the world's No. 1 automaker and 32,000 more auto-related jobs in the state since the companies emerged from their 2009 managed bankruptcies. Romney opposed the move, even writing a New York Times opinion piece in 2008 that carried the headline "Let Detroit Go Bankrupt."

President Barack Obama told more than 1600 current and hourly autoworkers on Tuesday that if Republicans had been in charge they would have left the auto industry "out to dry."

The super PAC behind President Obama is on the air in Michigan today with an ad slamming Mitt Romney and his opposition to the auto industry ...

The president proclaims the government's support of domestic automakers a success story in a pair of Michigan stops.

The deal between General Motors and the Obama administration solves a problem that could have troubled the company’s plan for quick restructuring.

The Obama Administration will lend Tesla Motors $465 million to build an electric sedan and the battery packs needed to propel it.

With a bankruptcy filing by Chrysler appearing all but certain, President Obama will address the fate of the automaker at noon.