Obama: Auto Industry Recovering

Bailing out the auto industry may have been one of Barack Obama’s more unpopular decisions, but now he says it is paying off. In his weekly radio address, the president boasted signs of recovery at General Motors and Chrysler and used them to push for the financial reform bill, which will come before the Senate this week. GM has decided to pay back $5.8 billion in government loans and Chrysler turned an operating profit for the first quarter, with losses from the auto industry overall falling to $28 billion from an initial $85 billion.