Former Bush backer Lee Iacocca endorses Kerry

Lee Iacocca Endorses Kerry for President; 2000 Bush Backer Swings Support to Kerry in 2004
Thu Jun 24, 1:17 PM ET

SAN JOSE, Calif., June 24 /U.S. Newswire/ -- Former Chairman of the Chrysler Corporation Lee Iacocca today endorsed Democratic Presidential candidate John Kerry for President. Having backed George W. Bush in 2000, Iacocca is switching his support in 2004 after over three years of jobs failure by the Bush administration

Iacocca announced his support for Kerry in San Jose Calif., at an event focused on Kerry's plan to create high-tech, high-paying jobs and strengthen America through a greater commitment to technology and innovation.

"I want to thank Lee Iacocca for his powerful endorsement of our plans to build a stronger America," Kerry said. "He knows the test of leadership is not whether it's Republican or Democratic, but whether it will move this country forward. I'm proud to have his counsel and his support. There are few men more respected not just in corporate America, but in all of America, than Lee Iacocca."

In 2000, Iacocca backed Bush, citing jobs, particularly in the Michigan automobile industry, as one of his chief concerns. Iacocca was an active campaigner who appeared in television ads and GOTV calls focused on the need to protect jobs in Michigan.

However after three and a half years, the Bush administration's jobs record has been characterized by failure -- losing 134,900 manufacturing jobs in Michigan alone.

George Bush faces the worst jobs record of any President who has run for reelection in nearly sixty years. From January 2001 when Bush first took office until May 2004, the economy has lost 1.9 million private sector jobs. While American jobs have been shipped to countries overseas, the Bush administration has stood by, even praising the benefits of outsourcing. Jobs that are being created pay significantly less than the jobs we have lost.

John Kerry knows America can do better and that we can have an economy that lifts families up with new, high-paying jobs. As President, Kerry will end tax breaks that encourage companies to ship jobs overseas and create 10 million new and better jobs in America, including 342,000 in Michigan. He will cut taxes for 99 percent of businesses and invest in technology and worker training, so that American workers are prepared for the jobs of the future.

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