Cars, Chrysler and Ronald Reagan

So today, let’s talk about cars, Chrysler, Reagan and…a looming recession. 40 years ago this week, President Reagan addressed the Chrysler plant in beautiful downtown Fenton, Missouri to stoke the fires of recovery and encourage the employees to stay the course. Recall that President-elect Ronald Reagan endorsed the government bailout of Chrysler during the campaign, reversing his initial position, but really never changed his fundamental belief that automakers should stand on their own without government backing. Let’s listen to the President in February 1983 when the economy was just starting to turn around. His hosts were Lee Iacocca, Senator Danforth and Governor Kit Bond.