Pointing out “what a difference five years makes,” Vice President Joe Biden heralded the turnaround of the U.S. auto industry, and said the Motor City would follow."Just like the auto industry came back, Detroit is going to come back," Biden said in remarks at Cobo Center at the North American International Auto Show Thursday morning. "The industry is back."
The vice president said the Obama administration refused to let the auto industry fail. The Obama administration agreed to spend about $60 billion to help rescue General Motors Co. and Chrysler Group LLC after the Bush administration infused the first $25 billion.
"We bet on American ingenuity, we bet on you and we won," Biden said, recounting a central theme of the 2012 presidential campaign. "How could we possibly walk away from the iconic industry of America?"
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