Steven Chu: “America still has the opportunity to lead the world in a new industrial revolution.”

The American taxpayer has every right to expect that there is a reasonable chance for repayment of the loans we give out.

If I look at other countries and how they are borrowing from our playbook--we have a long history of funding our research and development through our national labs, through our universities, and even in some companies.

We believe that that ATVM loans, for example, the loans to Ford and to Nissan, saved or generated many, many thousands of jobs.

The loans we give are for American jobs, and we are very clear about that.