Obama: Bush Administration Automaker Plan a “Necessary Step.”
byDecember 19th, 2008
President-elect Barack Obama Friday described President George W. Bush’s efforts to stave off the financial collapse of the nation’s automakers as a “necessary step.” Speaking at a press conference in Chicago at which he announced four more candidates to his Cabinet, Obama said “Today’s actions are a necessary step to help avoid a collapse in our auto industry that would have devastating consequences for our economy and our workers.
“With the short-term assistance provided by this package, the auto companies must bring all their stakeholders together – including labor, dealers, creditors and suppliers – to make the hard choices necessary to achieve long-term viability.
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