And the Energy Department doled out billions more to Ford and others to preserve auto-making jobs in the U.S. while steering the industry toward cleaner vehicles.

FORBES: Automakers' Report Card: Who Still Owes Taxpayers Money? The Answer Might Surprise You

Speaking of our auto industry, everyone recognizes that years of bad decision-making and a global recession have pushed our automakers to the brink.

CNN: Obama speech to Congress focuses on economy

As for our auto industry, everyone recognizes that years of bad decision-making and a global recession have pushed our automakers to the brink.

NPR: Obama's Address To Congress

We also took steps to prevent the rapid dissolution of the American auto industry -- which faced a crisis partly of its own making -- to prevent the loss of hundreds of thousands of jobs during an already fragile, shaky time.

WHITEHOUSE: Job Creation and Economic Growth

And you combine it then with an entire new U.S. auto industry that is cleaner and smarter and has better designs and is making better products -- those are potentially thousands, tens of thousands, hundreds of thousands, of manufacturing jobs.

WHITEHOUSE: The Economy and the American Family