US making profit in automobile sector, but my administration not getting credit: Obama
August 2nd, 2010 - 4:53 pm ICT by ANI
Washington, August 2 (ANI): United States President Barack Obama has highlighted the growth of the country’s auto industry as an evidence of broader economic good news for the first time since 2004, but stressed that his administration is not giventhe credit it deserves.
“Today, for the first time since 2004, all three U.S. automakers are operating at a profit, the first time in six years,” the CBS News quoted Obama, as saying.
“Today, U.S. automakers have added 55,000 jobs since last June, the strongest job growth in more than 10 years in the auto industry,” he added.
However, on being asked whether he thinks that his government is not given due credit, he replied by saying, “Yes,” Mr. Obama laughed. “But here’s the reason: We’ve gone through the worst economic downturn since the Great Depression. No other depression comes close.”
Obama feels that after going through so much trauma, people have every right to be scared, angry and frustrated.
“I don’t expect the American people to be satisfied when we’re only half of the way back,” he added. (ANI)
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Tags: 10 years, auto industry, automakers, automobile sector, barack obama, cbs, cbs news, economic downturn, great depression, job, jobs, six years, trauma, united states
