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Obama to Visit Detroit Auto Show

President expected to highlight successful auto bailout.

by on Jan.11, 2016

President Barack Obama plans to attend this year's North American International Auto Show in Detroit.

President Barack Obama will visit the North American International Auto Show later this month, where he is expected to highlight both the successful bailout of the Detroit auto industry and the economic turnaround that led to record U.S. auto sales last year.

The success of the auto industry – which some economists credit with helping pull the U.S. out of its deep recession – is a key topic for the president as he moves to cement his legacy during the final year of his presidency. Auto sales are forecast to set yet another record in 2016, topped the nearly 17.5 million sold last year.

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The rebound of an industry that saw demand drop below 10 million in 2010 shows “America can do anything,” Obama said Saturday during his weekly radio address. (more…)

Consumers Win as Falling Oil Prices Rattle Market, Analysts

Gas prices drop for 100 consecutive days: a new record.

by on Jan.07, 2015

President Barack Obama warned Americans to not get used to the low gas prices, but also said it would be all right if they wanted to buy a car with their windfall.

The stock market has hit the skids this week as investors scramble to figure out the good and bad of the oil prices that have dropped below $51 a barrel, which is driving gas prices to levels not seen in a decade.

The AAA’s Daily Fuel Gauge reports that the price of gasoline across the U.S. has now fallen for more than 100 consecutive days, the longest streak on record, and the average price of gasoline around the nation has dropped below $2.20 per gallon or by more than 7 cents per gallon in the past week.

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In many metropolitan areas, however, the price of gasoline has now fallen well below $2 per gallon with sign indicating prices have dropped to $1.70 per gallon. (more…)

High Pay Auto Jobs Without Education Will Vanish

President announces American Education Initiative in Detroit.

by on Jul.15, 2009

President Barack Obama tells Michigan workers the era of high pay without an education is coming to an end.

President Obama tells Michigan workers the era of high pay without a good education is ending.

U.S. President Barack Obama entered what could be labeled the belly of the U.S. economic beast on Tuesday when he visited the campus of Macomb Community College, in Warren, Michigan, to announce his new American Graduation Initiative, which will provide $10 billion in government backed loans to renovate community college classrooms across the country.

It’s part of the President’s plan to have America achieve the ranking of having the highest college graduation rate of any country within the next decade – something critical for American competitiveness, Obama told the crowd, since the jobs of tomorrow are going to require an Associates Degree at minimum.

The president warned the estimated 2,000 people attending the speech that the jobs the auto industry treasured for so long — working on the line for $65,000 a year with just a high-school diploma — were long gone.

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A learning experience.

“Some of the jobs that have been lost in the auto industry and elsewhere won’t be coming back,” he stressed.  “They’re the casualties of a changing economy.  In some cases, just increased productivity in the plants themselves means that some jobs aren’t going to return.”