Today President Barack Obama delivered a fiery 25-minute speech to more than 1,600 automakers, in which he declared that if Republicans were in charge they would have left the auto industry “out to dry.”

“There were no private investors or companies out there willing to take a chance on the auto industry. Nobody was lining up to give you guys loans,” Obama said. “Anyone in the financial sector can tell you that.”

The President directed the speech as an attack towards former Massachusetts Gov. Mitt Romney, who suggested that GM and Chrysler could have been saved if they had immediately been required to go through bankruptcy.

“If we had turned our backs on you; if America had thrown in the towel; GM and Chrysler wouldn’t exist today. The suppliers and distributors that get their business from those companies would have died off, too. Then even Ford could have gone down as well,” Obama told attendees of the United Auto Workers Community Action Program convention. “Production: shut down. Factories: shuttered. Once proud companies chopped up and sold off for scraps. And all of you – the men and women who built these companies with your own hands — would’ve been hung out to dry.”

On the other hand Romney attacks Obama saying that because of him thousands of Michiganders lost their jobs, homes and businesses and that only he cares for Michigan and the automotive industry.


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