US Government On Plans to buy 17,600 American-Made Cars

Obama Administration plans to use a $285 Million budget to buy around 17,600 cars from American car manufacturers in June this year. This is one way for the US government to help the troubled automakers who are affected by the global financial crisis. The $285 Million budget will come from the Recovery Act Funds. Some of the car manufacturers who will benefit from this project are Ford Motor Co. (NYSE: F) and Chrysler LLC (NYSE: GM).

The US government plans to buy fuel-efficient cars from companies who have existing contract with the General Services Administration. This decision will surely help these big car companies in recovering huge losses incurred right when global financial crisis commenced.

Obama stated, "This is only a first step, but I will continue to ensure that we are working to support the American auto industry during this difficult period of restructuring."

I admire at the decision Americans made in the recent election. Obama is right on track to helping all industries in America recover from the recent American financial disaster. Now is the right time for Obama to fix the errors made by past administrations.