President Obama Addresses Auto Industry in Congressional Speech

President Obama's address 2-24-09







Last evening, President Barack Obama addressed the joint Houses of Congress and stated the obvious. The United States economy is tanking, but we are Americans and we will pull out of this stupor in no time. Along the way, he described the ills of the auto industry and really did not pull any punches.

"As for our auto industry, everyone recognizes that years of bad decision-making and a global recession have pushed our automakers to the brink. We should not, and will not, protect them from their own bad practices.

"But we are committed to the goal of a re-tooled, re-imagined auto industry that can compete and win. Millions of jobs depend on it. Scores of communities depend on it. And I believe the nation that invented the automobile cannot walk away from it."

Pretty strong words from our Commander-in-Chief, but right on the mark.

Obama continues, "We know the country that harnesses the power of clean, renewable energy will lead the 21st century. And yet, it is China that has launched the largest effort in history to make their economy energy efficient. We invented solar technology, but we've fallen behind countries like Germany and Japan in producing it. New plug-in hybrids roll off our assembly lines, but they will run on batteries made in Korea."

"While our economy may be weakened and our confidence shaken, though we are living through difficult and uncertain times, tonight I want every American to know this: We will rebuild, we will recover," Obama said.

"And the United States of America will emerge stronger than before," he told a chamber packed with lawmakers, cabinet members and invited guests.

Hats off to Obama's speechwriters, who did not shy away from from the truth, yet balanced the speech with plenty of hope and optimism. I am hopeful that the US automakers will take something from this speech and become the world leaders they used to be.