U.S. Transport Secretary Says In Prague U.S. Economy Starts to Recover

Ray LaHood in Prague. Photo Jakub Hornek

November 18 — In Prague, U.S. Transport Secretary Ray LaHood said on November 18 that the U.S. economy is showing signs of recovery. “If the growing stock market, financial institutions, the housing market, and improving car manufacturing are indications, then, yes, we have already touched the ground. But unemployment still impacts a lot of people.” 

LaHood hailed the “cash for clunkers” program as a success story. “With over 700,000 cars sold in America in less than 30 days it was a lifeline to automobile manufactures, car salesman, a government that collects taxes and companies that lend money. It was a win-win for America… It drew people back to car showrooms.”

The secretary also talked about growing role green technologies play in the U.S. auto industry and mentioned the Obama administration’s work to improve road infrastructure and build high-speed train lines.  LaHood said the U.S. government had paid little attention to transport  infrastructure in previous years. “Many of the roads and bridges were in very poor condition: America was one big pothole, LaHood said, “Over the last year we have filled a lot of these potholes and repaired a lot of roads and highways.” 

While in Prague, Secy. LaHood discussed transport safety and new U.S. and Czech projects with his Czech counterpart, Gustáv Slamečka.  He also discussed the U.S. economic outlook with representatives from the American Chamber of Commerce (AmCham).  At both events, Secy. LaHood congratulated Czechs on the 20th anniversary of the Velvet Revolution.