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Romney, Taking Credit For Auto Industry Success


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EUCLID, Ohio (AP) — Campaigning in the backyard of America'sauto industry, Mitt Romney re-ignited the bailout debate by suggesting he deserves "a lot of credit" for the recent successes of the nation's largest car companies.

That claims comes in spite of his stance that Detroit should have been allowed to go bankrupt.

The presumptive Republican presidential nominee told a Cleveland television station on Monday that President Barack Obama followed his lead when he ushered auto companies through a managed bankruptcy soon after taking office.

"I pushed the idea of a managed bankruptcy, and finally when that was done, and help was given, the companies got back on their feet," Romney said in an interview inside a Cleveland-area auto partsmaker. "So, I'll take a lot of credit for the fact that this industry has come back."

Romney has repeatedly argued that Obama ultimately took his advice on the auto industry's woes of 2008 and 2009. But he went further on Monday by saying he deserves credit for its ultimate turnaround.

The course Romney advocated differed greatly from the one that was ultimately taken. GM and Chrysler went into bankruptcy on the strength of a massive bailout that Romney opposed. NeitherRepublican President George W. Bush nor Democratic President Barack Obama believed the automakers would have survived without that backup from taxpayers.

Romney opposed taxpayer help.

"If General Motors, Ford and Chrysler get the bailout that their chief executives asked for yesterday, you can kiss the American automotive industry goodbye," Romney wrote in a November 2008 opinion article in the New York Times. "It won't go overnight, but its demise will be virtually guaranteed."

General Motors posted a record profit last year.

The issue is critical in at least two general election swing states: Ohio and Michigan, where the auto bailouts are popular among some Republicans and Democrats.

The Obama campaign pounced on Romney's statement Monday night, calling it "a new low in dishonesty" and calling on him to have "the courage and integrity" to admit he was wrong.

Romney is scheduled to campaign in Michigan on Tuesday.

http://news.yahoo.com/romney-taking-credit-auto-industry-success-031025566.html

 

Who knew? LMAO

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Romney is a complete 100% MORON! It baffles me how ANYONE can support him.

 

Mitt is the perfect sidekick for Al, together they can rid the world of ManBearPig!!

I think thats the funniest thing I've ever heard in my life Southpark rocks!!!

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A structured bankruptcy is what happened. That was the fix. That is why the bankruptcy laws exist.

General Motors posted a record profit last year? Yes, it’s true that GM paid back its loan from the Treasury Department, in full, ahead of schedule, but the debt was only part of the automaker bailout package. Through the Troubled Asset Relief Program, the Treasury gave GM $49.5 billion, most of which was converted into an ownership stake in the form of stock. Through this equity stake, the government still owns 61 percent of GM. So...they are not out of the woods yet.

 

Both party's spin the news to their favor, you have to read between the lines and do your own fact checking. This country is in the shitter because people are too lazy to do their own homework and did into the candidates backgrounds before they cast their vote.

 

Obama sucks, Romney sucks, and Paul has been marginalized so badly by the media I don't know if he can recover.

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I can not stand this guy he is a bit on the stupid side or is it he thinks we are too stupid to know the truth?

 

And he can't sing or dance. :jig:

 

I do feel we are just supposed to nod like a bobblehead when I hear we need to continue tax breaks to the "Job Creators"

 

Why didn't they create all this supposed infrastructure during the past ten years of those same breaks?

 

Because they make bigger profits overseas!

 

Patriotism is dead and capitalism only works for the masses when certain values exist in society

 

America has changed and government needs to recognize the new

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I can not stand this guy he is a bit on the stupid side or is it he thinks we are too stupid to know the truth?

 

And he can't sing or dance. :jig:

 

Have to admit our nation doesn't have the brightest civilian population. Most of us are middle class yet we vote in a party that serves only the ultra rich on a continual basis. How soon we forget what the menace of the Republican party brings.

 

We are still digging out of the mess GW put us in but so many buy into the republican lies. Obama may not be the greatest president but I think he was very limited. Shame on Obama for not being able to clean up Geroge Bush's mess in 3.5 yrs. It only took GW 8 years to make it......

 

That last remark was intended to be sarcastic....

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Have to admit our nation doesn't have the brightest civilian population. Most of us are middle class yet we vote in a party that serves only the ultra rich on a continual basis. How soon we forget what the menace of the Republican party brings.

 

We are still digging out of the mess GW put us in but so many buy into the republican lies. Obama may not be the greatest president but I think he was very limited. Shame on Obama for not being able to clean up Geroge Bush's mess in 3.5 yrs. It only took GW 8 years to make it......

 

That last remark was intended to be sarcastic....

 

 

 

 

Yep, the GOP has been able to fool the middle class into voting for a throat slit.......on the positive, light has been shed on a limited basis, Hmmmmm, whats goin on?

 

The Reaping of the poor AND the middle class by the predatory GOP.............yep.

 

http://www.youtube.com/watch?v=Y9KC7uhMY9s

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