This is more than a chart—it's the story of the comeback of a major American industry.
Over the past few weeks we've heard some great news out of Detroit:
- Both GM and Chrysler are turning a profit, less than two years after the President decided to help the manufactures stay afloat with government loans.
- GM is hiring again.
- Chrysler has paid back their government loans six years early.
To tell this success story in full, the White House released a new report today called "The Resurgence of the American Automotive Industry."
Since 2009, GM and Chrysler have announced over $8 billion investments in their U.S. facilities, creating or saving nearly 20,000 jobs.
"The actions taken by this Administration have laid the foundation for manufacturing's quiet resurgence," the report concludes, "but we cannot be complacent." The White House has called on Congress to take action and support President Obama's agenda for growth, job creation, and competitiveness in U.S. manufacturing.
You can read the report in full here.