Romney: Auto Bailout Discredits President Obama

Source: Alexander Burns / Politico

President Obama has made the 2009 auto bailouts a central part of his reelection message, calling the automobile industry’s turnaround an example of tough choices made well, with real, positive economic consequences for the country. Mitt Romney uses a Detroit News op-ed today to argue the opposite, writing that “all the defects in President Obama’s management of the American economy are evident in what he did” with the automakers:

Instead of doing the right thing and standing up to union bosses, Obama rewarded them.

A labor union that had contributed millions to Democrats and his election campaign was granted an ownership share of Chrysler and a major stake in GM, two flagships of the industry.The U.S. Department of Treasury — American taxpayers — was asked to become a majority stockholder of GM. And a politically connected and ethically challenged Obama-campaign contributor, the financier Steven Rattner, was asked to preside over all this as auto czar.

This was crony capitalism on a grand scale. The president tells us that without his intervention things in Detroit would be worse. I believe that without his intervention things there would be better.

To read this article in its entirety visit Politico.

  • Anonymous

    wow.. what a douche

  • thinkoutloud

    Is this the same Romney that wrote the Op-ed in 2009 saying that Detroit should be allowed to fail????