(WASHINGTON) -- President Obama discusses his decision to rescue the American auto industry from collapse and save more than one million American jobs in his 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.
“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,” he continues.
According to the president, “Today, auto sales are the highest they’ve been in more than four years. GM is back. Ford and Chrysler are growing again. Together, our auto industry has created nearly a quarter of a million new jobs right here in America.”
Obama concludes by saying, “That’s what America is all about. When we get knocked down, we get back up. We come back stronger. “
Copyright 2012 ABC News Radio