America has been under the eye of many recently, with the rise in unemployment and the gap between the rich and the poor threatening the living standards of a once great country. One reason why there is this widening in their social class is the collapse of their manufacturing industry. This has caused President Obama to have a great deal of political pressure.
But news today will boost the Democrat
s, with General Motors (GM) announcing record profits in 2011. With a profit of $7.6bn (£4.85bn) over 2011, up 62% from 2010, there is hope that the American motor industry will develop and retain to be one of the biggest economies in the world.
This profit has benefited the economy and the workers, with bonuses up to $7,000 to 47,500 eligible workers across the world – compared with $4,300 a year ago.
But this is one company in the world’s biggest economy, Mr Obama has to continue developing and promoting the industry if he has any chance in retaining bein
