Live

Watch CBSN Live

Day 70: Obama Lays Out Auto Plan

4903757On his seventieth day in office, President Obama laid out a plan for General Motors and Chrysler that gave both companies a limited about of time to restructure if they hope to secure further federal funding.

"I am announcing that my administration will offer GM and Chrysler a limited period of time to work with creditors, unions, and other stakeholders to fundamentally restructure in a way that would justify an investment of additional tax dollars; a period during which they must produce plans that would give the American people confidence in their long-term prospects for success," he said.

The president also signed a wilderness protection bill setting aside more than 2 million acres "to protect, preserve and pass down our nation's most treasured landscapes to future generations."

Check out Chip Reid's CBS Evening News report on the president's day below.

View CBS News In
CBS News App Open
Chrome Safari Continue