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| Politics
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| Barack Obama cites ArcelorMittal's |
| Barack Obama cites ArcelorMittal's example for economic revival
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| UNITED STATES OF AMERICA
, 15-November-2013
5:3:22 AM |
| President Barack Obama chose a plant owned by Indian steel tycoon Lakshmi Mittal that is the largest supplier of steel to the US auto manufacturing sector to tout his administration's work to spur economic growth.
"I want to thank your CEO, Lakshmi Mittal, for investing in America and the Cleveland area. We appreciate him," Obama said amid applause from workers in yellow hard hats at ArcelorMittal's steel factory in Cleveland, Ohio, on Thursday.
"The story of this plant is the story of America over the last five years," Obama said. "We haven't just been recovering from a crisis. What we've been trying to do is rebuild a new foundation for growth and prosperity to protect ourselves from future crises."
Obama told the workers they were "an example of what we do when we put our minds to it".
"Over the last 44 months, our businesses have created 7.8 million new jobs. Last month, another 200,000 Americans went back to work," he said amidst applause.
"And a lot of those jobs are in manufacturing. So, now we've got more work to do to get those engines of the economy churning even faster," he said.
Just a few years ago the economy was in free fall and the auto industry was on the brink of collapse, Obama noted.
With the demand for steel drying up early, 1,200 steelworkers were furloughed from the factory when the Obama administration stepped in to bail out the auto industry to help it start growing again
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