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Obama Talks Ford, Giannoulias
President Obama is claiming victory in his effort to save the automobile industry.

The president sustained a lot of criticism for the $60 billion the government gave to the car companies – some of it loans and some of it in exchange for equity. Thursday, he visited a Ford factory in Chicago that is adding 1,200 jobs and a second shift to say that the industry is on the right path.

"It's creating new jobs, it's manufacturing the fuel-efficient cars and trucks that will carry America towards an energy independent future," he told a crowd of about 1,700, mostly employees of the plant. "Each and every one of you is proving the naysayers wrong."

The president claims the bailout saved 1 million jobs. Ford did not accept bailout funds last year, while Chrysler and General Motors did. The government still owns 60 percent of General Motors.

After leaving the Ford plant, Obama attended a fundraiser for Democratic U.S. Senate candidate Alexi Giannoulias.

(Illinois Radio Network)
08 06 10 by Newsroom
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