Obama to unveil manufacturing institutes in Detroit, Chicago

U.S. President Obama gives a speech during a news conference at the North American Leaders' Summit in TolucaBy Mark Felsenthal WASHINGTON (Reuters) – President Barack Obama will announce two new manufacturing institutes aimed at attracting and nurturing businesses that will hire workers for highly paid jobs in the United States, a White House official said on Saturday. The Department of Defense will lead the effort with $140 million in government money. Part of that push is an effort to expand manufacturing jobs, many of which were lost in preceding decades as U.S. firms searched for cheaper labor abroad. With a Republican-led House of Representatives focused on cutting federal spending and reducing the size of government, the president has been forced to scale back his plans for the institutes, finding money from savings within existing programs rather than securing a big chunk of new spending for them.

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