Obama At UAW: 'Would Have Been Another Great Depression' Without Auto Bailout

Speaking to the United Auto Workers union in Michigan, President Obama proclaimed that the private sector didn’t save GM and Chrysler but in fact it was the “tax dollars” he had allocated to the failing car companies. 

Obama also claimed that Ford, the company that did not take a government bailout, would have gone down without his intervention and the entire nation would have spiraled into a great depression.