In this week's address -- delivered from the General Motors automobile assembly plant in Detroit/Hamtramck, Mich. -- President Barack Obama praised the successes of the auto industry's restructuring. When his Administration decided to invest in the American car companies, some said such a move was bound to fail. But since GM and Chrysler have emerged from bankruptcy, the auto industry has added 55,000 jobs -- the strongest growth in 10 years -- and, for the first time since 2004, all three companies are operating at a profit.The President also called on Republican leaders in the Senate to stop blocking a vote on a bill helping small businesses. Even though this bill will help the nation's recovery, and has been endorsed by groups such as the Chamber of Commerce and the National Federation of Independent Business [NFIB], the Republican Senate leadership continues to hold it hostage to politics by denying an up-or-down vote on the bill.
To view the video of President Obama's weekly address, go to: http://bit.ly/Video07312010
To read the transcript of the President's weekly address, please visit: http://bit.ly/Transcript07312010
To learn more about H.R. 5297 -- The Small Business Jobs and Credit Bill of 2010, go to: http://bit.ly/HR5297
SOURCES: Library of Congress, The White House [photo by Pete Souza]
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