Biden Touts Auto Industry Turnaround
WASHINGTON -Vice President Joe Biden touted the Obama administration's bailouts of U.S. auto makers in the White House radio address Saturday, saying they succeeded in turning around the auto industry and helped the economic recovery.</br></br>"Because of what we did, the auto industry is rising again. Manufacturing is coming back," Mr. Biden said. "And our economy is recovering and it's gaining traction."</br></br>Mr. Biden noted the announcement this week by Chrysler that the company will begin repaying loans from the U.S. government years ahead of schedule. He also said General Motors Corp., another recipient of government bailout money, had announced that its Detroit Hamtramck plant was ramping up production.</br></br>"Many people thought the president should just let G.M. and Chrysler go under," Mr. Biden said. "They didn't think the automobile industry was essential to America's future. The president disagreed."</br></br>Mr. Biden acknowledged near the end of the address that, despite signs the U.S. economy is improving, there are still problems with the economy. He said people's paychecks weren't keeping pace with rising gas prices and the cost of health care and college tuition. He said the Obama administration is focused on "making sure that if you work hard, play by the rules, you'll be able to get ahead, put your kids through college, retire with dignity and security."