Statement of Senator Barack Obama on Loan Guarantees for Domestic Auto Manufacturers

August 22, 2008 -- Chicago, IL -- "Breaking our oil addiction requires helping our auto industry re-tool to make fuel-efficient cars and trucks, which is why my energy plan includes $4 billion in the first year for this purpose.

As I have said repeatedly I also support providing additional assistance to the companies in future years to ensure that advanced fuel-efficient vehicles will be made here in the US.

Unfortunately, John McCain has shown how out of touch he is with the struggles of everyday people and the needs of autoworkers by consistently saying no to loan guarantees for our domestic automakers. Why would auto workers trust John McCain to protect their jobs and provide much needed help for America's auto industry?" said Senator Obama.

Source: Barack Obama campaign

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