How quickly we forget. Just two short years ago, our country was in the midst of a great financial calamity, one in which we are still climbing the steep slope to recovery.
In 2009, Chrysler was almost out of cash. President Barack Obama recognized the problem and instituted the stimulus plan. Recently, Chrysler repaid its $5.9 billion loan in full. Earlier, General Motors did the same. Obama's faith in the American automotive industry saved 2 million jobs in the U.S.
Mitt Romney in his wisdom said no to TARP funds. His solution was to let these huge employers fail and allow the economy to seek its own level for recovery. Can you imagine what would have happened, if another 2 million families had no income coming into their homes?
Today, General Motors and Chrysler have introduced new product lines, products that have recaptured the American consumer with their innovative styling and quality. Plus, the American auto industry is earning profits. We should recognize Obama's ability to make difficult and often unpopular decisions.
On Broadway, a great performance is often rewarded with a standing ovation. Bravo, Mr. President.
Bob and Brenda Hand
Hilton Head Island