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Friday
Jun032011

Obama to Visit Ohio Chrysler Plant, Speak on Auto Bailout's Success

JIM WATSON/AFP/Getty Images(TOLEDO, Ohio) -- President Obama will visit a Chrysler plant in Toledo, Ohio Friday, congratulating once-bankrupt auto companies for zooming back to life.

The president is expected to tout the success of bailing out the auto industry -- a decision that was not popular when he took office, and remains controversial for some, who re-dubbed General Motors' "GM" as "Government Motors."

His tour of the plant comes a day after the Treasury Department announced it was selling back its final stake in Chrysler to Fiat.  After being bailed out, Chrysler has repaid all of its debt, six years ahead of schedule.

Half of the General Motors stock the government owns has been sold back to the public, and the White House claims taxpayers will get back $66 billion of the $80 billion invested.

And perhaps not coincidentally, Obama's announcement is being made in a key a battleground state in the 2012 election.

Copyright 2011 ABC News Radio

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