Joe Biden

“ I’ve got some good news for us today. Not only is our economy overall growing, but one of the important sectors of our economy is on the rise again: the American automobile industry.
Just a few days ago, on Tuesday, Chrysler Corporation announced that they were repaying the taxpayers for the loans we gave them when we came into office. And this announcement came six years ahead of schedule – and just two years after Chrysler Corporation emerged from bankruptcy. You know, and it’s a sign of what’s happening throughout the American automobile industry. ”

“ And he certainly wasn’t going to abandon an industry that had meant so much to our economy, and so much to so many for so long.
So, he said if GM and Chrysler, and their management, and all their shareholders were willing to do the difficult work of making themselves more competitive, we would support giving them another chance. And because of what we did, the auto industry is rising again. Manufacturing is coming back. And our economy is recovering and it’s gaining traction. ”

“ I got the same sense when I went to Bonneville and Son, a Chrysler dealership in Manchester, New Hampshire a couple days ago. 85 employees came out, stood out there in the lot with me. 85 people. All of whom knew and said, had Chrysler liquidated, had we not helped them, they wouldn’t have a job.
When President Obama and I came into office, we faced an auto industry on the brink of extinction. Total collapse. At the time, many people thought the President should just let GM and Chrysler go under. They didn’t think the automobile industry was essential to America’s future. ”