OBAMA FLASHBACK: “We Refused to let Detroit go bankrupt.”
From the president’s October 13, 2012 Weekly Address:
Just a few years ago, the auto industry wasn’t just struggling – it was flatlining. GM and Chrysler were on the verge of collapse. Suppliers and distributors were at risk of going under. More than a million jobs across the country were on the line – and not just auto jobs, but the jobs of teachers, small business owners, and everyone in communities that depend on this great American industry.
But we refused to throw in the towel and do nothing. We refused to let Detroit go bankrupt. We bet on American workers and American ingenuity, and three years later, that bet is paying off in a big way.
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After 50 years of Democratic rule, Detroit went bankrupt today.