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.
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…)