Obama Plans to Help Auto Industry

Three days after the election, President-Elect Barack Obama held his first press conference and promised help for U.S. automakers.  Obama called the auto industry the “backbone of manufacturing” in America.  He also said that as president, he will “act swiftly to confront the greatest economic challenge of our lifetime," according to Edmund’s Auto Observer.

Obama said he would help the U.S. auto industry “adjust” to the changing environment, and that he would explore new ways for the government to help U.S. automakers.

Many believe Obama’s pick for secretary of the Department of Energy will be Michigan Governor Jennifer Granholm, who has been advising the president-elect on economic matters.  As governor of Michigan, Granholm is obviously well aware of the auto industry’s importance to America.