As if it wasn’t bad enough that Obama lied his way through 3 debates, he’s out on the trail today and has been caught in another “whopper.”
Referencing Romney’s opposition to the auto bailout, Obama continued, “If you say you love American cars during a debate, but you wrote an article titled ‘Let Detroit Go Bankrupt’ — you may have Romnesia.”
Not only does Obama “forget to mention” that his plan eventually resulted in the bankruptcy of Detroit he fails to mention that Romney advocated federal assistance in that article. The only thing that Romney objected to was the bailout; a view that in hindsight is 100% accurate.
And let’s not forget to mention that the sole beneficiary of that bailout was Obama’s union friends.
Obamnesia to be sure.
Obama’s plan was a federal bail out of the auto industry. Romney opposed that and wanted private equity to do it, even though no private equity was available. That would have meant that GM would likely have gone bankrupt. Romney was fine with that, saying that other companies could compete and that would bring Detroit back. I think Obama did the right thing and Romney’s plan would have failed. The beneficiary of Obama’s plan were autoworkers and their families, as well as the ripple effects through the economy.
Obama’s plan was a federal bail out of the auto industry.
Actually, it was Dubya’s.
That would have meant that GM would likely have gone bankrupt.
Scott, GM DID go bankrupt. Obama brought them through bankruptcy.
The beneficiary of Obama’s plan were autoworkers and their families
With respect, that’s bullshit. The beneficiaries were the unions.
The last point I’ll make is that we are forgetting the fact that even if, a BIG if, GM totally failed, the demand for cars would not have changed. Other companies would have to make cars. And they would have made them here in America. So, if a job WAS saved in Detroit, it was destroyed in Alabama.