Obama boasts saving auto industry 'on the brink'

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Barack Obama, Jan Allman, Mark Fields
President Barack Obama tours the Ford Motor Company Chicago Assembly Plant with Mark Fields, left, Ford Motor Company, and plant manager Jan Allman, Thursday, Aug. 5, 2010. The Chicago assembly plant will begin production of a new 2011 Ford Explorer.
AP Photo/Pablo Martinez Monsivais

By DARLENE SUPERVILLE, Associated Press Writer

CHICAGO (AP) - President Barack Obama is crediting his politically risky bailout of the the U.S car companies with turning around an "industry on the brink."

Speaking at a Ford plant that is adding 1,200 jobs and a second shift, Obama says that while others criticized his $60 billion bailout over a year ago, he chose that course because of his faith in American workers. While Ford did not accept federal funds, Obama argued that the company did benefit from a resurgence in the industry following the bailout of General Motors and Chrysler.

Following his stop at the Ford plant, Obama will head to three political fundraising events.

(Copyright 2010 by The Associated Press. All Rights Reserved.)

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