Lack of demand for small vehicles, hybrids
NEW YORK – On a day in which the international news cycle was dominated by the Islamic terrorist attack on the French satirical magazine Charlie Hebdo in Paris, President Obama traveled to Wayne, Michigan, to deliver a pre-arranged speech celebrating his rescue of the U.S. auto industry.
Ironically, the Ford Assembly Plant that Obama visited is closed temporarily this week because of lack of demand for the small cars and hybrids the plant produces, with 2014 sales of the Ford Focus down 6 percent and the C-Max hybrid down 22 percent.
In his tour of the Ford plant, Obama sat for a minute in a red Mustang then emerged to declare “this is an American car, right here, this Mustang. That’s beautiful.”
In his speech to an enthusiastic crowd at the assembly plant, Obama asserted America’s “resurgence is real – don’t let anybody tell you otherwise,” echoing his 2012 campaign mantra that “Osama Bin Laden is dead, but General Motors is alive and well.”
“Last year, 2014, was the strongest year for job growth since the 1990s,” Obama said. “We’ve now had a 57-month streak of private sector job creation. We’ve created nearly 11 million new jobs. That’s the longest stretch in our history of private sector, uninterrupted job creation.”
In a speech regarded as a warm-up for the economic-success narrative Obama is expected to tout during his upcoming State of the Union speech, he took credit for what he claimed is a strong and continuing recovery.
“Since 2010, we, America, have put more people back to work than Europe, Japan and every other advanced economy combined,” Obama claimed. “After a decade of decline, American manufacturing is in its best stretch of job growth since the 1990s. Here in Michigan, manufacturers have created more than 100,000 jobs, helping to cut your unemployment rate in half.”
Obama, in his speech, neglected to note Ford did not join GM and Chrysler in the bankruptcy proceedings his administration managed in 2009, though Ford did benefit from a $5.9 billion low-cost government loan used to overhaul its factories and to re-engineer more fuel-efficient technology.
Obama also neglected to cite a U.S. Treasury report released in December documenting the U.S. taxpayer lost $9.26 billion on the auto bailout, recovering only $70.43 billion of the $79.69 billion it doled out to GM and Chrysler.
Also challenging the Obama administration narrative, the city of Detroit emerged in December with the largest-ever municipal bankruptcy in U.S. history, requiring the city to slash $7 billion in debt and to reinvest $1.4 billion over 10 years to improve city services.
In 1950, Detroit, with a population of almost 2 million, was the fifth largest city in the United States. Today, some 55 years later, 1.3 million people have abandoned the city as the auto industry “has crumbled,” leaving the downtown area “a tiny urban island surrounded by empty lots,” as described recently by the Daily Mail of London.
Written by JEROME R. CORSI
Read more at WND