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Is The Auto Industry Out Of The Woods?
On a day when a new jobs report showed hiring across the U.S. has slowed significantly, the White House went on the offensive. President Obama was in Ohio Friday defending his economic policies and asserting that his administration's bailout of Chrysler and General Motors saved thousands of jobs that otherwise would have disappeared. The president visited a Chrysler Plant in Toledo, where he announced the government sale of its final 6-percent stake in Chrysler to the Italian auto company, Fiat. The resurrection of the auto industry is emerging as a central theme in the president's re-election campaign. Michele Norris talks with David Shepardson, Washington, D.C., bureau chief for the Detroit News, about whether the American auto industry really is out of the woods yet due to the government bailout.