Michigan, are you listening? Debunking Obama’s Bankruptcy Spin on Auto Bailouts

Obama’s auto bailout ‘success’ is a disaster for taxpayers.

Like a toddler who likes to continually jabber a new phrase, Obama keeps blabbering “Romney said let Detroit go bankrupt! Romney said let Detroit go bankrupt!”

Here’s what our prattling President doesn’t want Americans to know:

Deceitful, smoke-’n-mirrors Obama ADOPTED Mitt Romney’s idea of a managed bankruptcy for American car makers. BUT, Obama’s mishandling of the process has proven very costly.

Romney Press - Oct 16, 2012:

Mitt Romney Will Help Our Auto Industry Become Stronger And More Competitive

As a Michigan native and the son of a car guy, Mitt Romney has always believed that a strong auto industry is an essential component of the nation’s economy. He has a plan that will help the auto industry move forward into a new era of innovation and dominance.

  • Domestic Energy Production That Aids Manufacturing: We are on the cusp of a manufacturing renaissance in the United States, and it will be made possible by an abundant supply of cheap, reliable energy within our borders. Mitt Romney will have a true all-of-the-above strategy that includes coal, natural gas, oil and other resources.

  • Trade That Works For Our Auto Industry: Our workers make the best cars in the world. We must develop markets abroad where our cars can be sold. Mitt Romney will open new markets to American automakers far more aggressively than this President has.
  • Stand Up To China And Level The Playing Field: Mitt Romney will stand up to countries like China that don’t play by the rules. Starting on day one, Mitt Romney will make clear to China that they must respect the intellectual property of American manufacturers and open their markets to American products.
  • Lower Our Corporate Tax Rate To Boost Competitiveness: Mitt Romney will reduce the corporate tax rate, so that our carmakers can compete on a level playing field both at home and around the world, and can afford to invest more in breakthrough products. He will also stop the foolish practice of imposing an extra tax on our automakers when they sell cars overseas so they can reinvest the profits here at home.
  • Get Government Out Of The Car Business: President Obama has told Detroit what kind of cars to build, implemented extraordinarily onerous regulations that will drive up the cost of each car by thousands of dollars, and to this day owns more than one quarter of General Motors. Mitt Romney will get the federal government out of the auto industry and eliminate regulations that distort the market and drive up costs.
  • A Reminder – Mitt Romney supported a managed bankruptcy process for our automakers, which is what President Obama ultimately agreed to support:

    Months After Taking Office, President Obama Finally Arrived At The Conclusion That Managed Bankruptcy Was Preferable To His Initial Strategy. “The Obama’s administration’s leading plan to fix General Motors Corp. and Chrysler LLC would use bankruptcy filings to purge the ailing companies of their biggest problems, including bondholder debt and retiree health-care costs, according to people familiar with the matter. … President Barack Obama’s task force has told both companies that the administration prefers this route … rather than the prolonged out-of-court process that has thus far frustrated administration officials.” (The Wall Street Journal, 3/30/09)

    The Obama Administration Ultimately Found Bankruptcy To Be The Only Way Forward. “The administration says a ‘surgical’ structured bankruptcy may be the only way forward for GM and Chrysler, and President Obama held out that prospect Monday. ‘I know that when people even hear the word ‘bankruptcy,’ it can be a bit unsettling, so let me explain what I mean,’ he said.” (The Wall Street Journal, 3/30/09)

    What did Governor Romney NOT support? Labor Union handouts, giving American companies to foreign owners, ill-considered dealership closings, and keeping government in the car business:

    President Obama’s Handling Of The Bailout Gave The United Auto Workers Union A Majority Ownership Stake In Chrysler. “The Obama administration’s decision to bail out Chrysler gave the union trust what was initially a majority ownership position of 55 percent of its shares.” (Reuters, 6/3/11)

    The Obama Administration Handed Over Control Of Chrysler To Fiat, An Italian Automaker. “Chrysler LLC, for years America’s third-biggest automaker, survived perhaps the most dire of its periodic near-death experiences in 2008 and 2009, when the federal government forced it into bankruptcy, pumped in $10 billion in taxpayer funds and put it under the control of the Italian automaker Fiat, with the auto workers union as the company’s biggest shareholder.” ((The New York Times, 7/30/12)

    President Obama’s Auto Task Force Pressed GM And Chrysler To “Close Scores Of Dealerships Without Adequately Considering The Jobs That Would Be Lost.” “President Obama’s auto task force pressed General Motors and Chrysler to close scores of dealerships without adequately considering the jobs that would be lost or having a firm idea of the cost savings that would be achieved, an audit of the process has concluded.” The New York Times, 7/18/10)

    The Obama Administration “Contributed To The Accelerated Shuttering Of Thousands Of Small Businesses” And Potentially Added “Tens Of Thousands Of Workers” To The Unemployment Lines. (CNN Money, 7/19/10)

    General Motors Now Wants The Government To Sell Its Stake In The Company, But The Obama Administration Is Resisting. “The Treasury Department is resisting a push by General Motors Co. to sell the government’s entire stake in the auto maker – the latest source of tension between two unlikely partners thrust together at the depths of the financial crisis. U.S. taxpayers kept the nation’s largest auto maker by sales afloat with a $50 billion bailout in 2009 and now own 26.5% of the Detroit company. But GM executives have grown increasingly frustrated with that ownership and the stigma of being known as ‘Government Motors.’” (The Wall Street Journal, 9/17/12)

    Taxpayers Are Taxpayers Are Currently Projected To Lose More Than $25 Billion On The Bailouts Of Auto Industry. (U.S. Treasury Department, 8/12)

    Now, you have the truth.

    Michiganders, help Mitt Romney and Paul Ryan obtain your 16 electoral votes. CAll NOW to get started. Readers, you, too, can help.

    By Lisa Benson



    Follow Jayde Wyatt on Twitter @YayforSummer

    Sununu Sets Record Straight on Obama’s Lies About Romney: Auto Bailout Attacks & More…

    While Americans are cheering for U.S. athletes as they go for the gusto at the Olympic games in London (USA!) former New Hampshire Governor John Sununu continues to garner political gold on Mitt Romney’s behalf.

    Sununu appeared yesterday on CNBC’s ‘Closing Bell’ with Maria Bartiromo to set the facts straight on Obama’s auto bailout attacks on Romney. Entitlement reform, taxes, the economy, and more were mentioned. As usual, solid Sununu came armed with facts and controlled the narrative.

    No wonder Bartiromo couldn’t get anyone from the Obama campaign to appear with Sununu



    Two days ago (July 31st) Sununu took on Juan Yawn Williams on Hannity (FOX News). Sununu ran truth circles around Williams…

    “Is government the solution or the problem?” (begins @:15):


    (Did you notice how Williams employed another new desperate Obama tactic? When Sununu laid out the disaster of Obamanomics, Williams attacked with a silly and ineffective “you’re-so-pessimistic-about-America-Chicken-Little” meme. Sounds like Team Obama held a few midnight beer summits to come up with that one!)
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    Obama’s “You Didn’t Build That!” Defining Moment - Govt Supreme or Govt Subordinate?

    A Clear Choice

    Thank you Barack Obama for waking up America and exposing who you really are, albeit through a small crack in the window! The internet is now abuzz with pictures and commentary about Obama’s comment, “If you’ve got a business, you didn’t build that. Somebody else made that happen.” Appreciating Mr. Obama’s statement, the contrast for America is a little clearer; for those on the fence, or those who have been wondering - they now have a better vision of the distinction between Governor Romney and Barack Obama. Even so, this is just the tip of the iceberg. If Obama talks unscripted long enough who knows what more he will reveal - keep talking!

    Barack Obama - Recent Revelatory statements.

    “If you were successful, somebody along the line gave you some help. There was a great teacher somewhere in your life. Somebody helped to create this unbelievable American system that we have that allowed you to thrive. Somebody invested in roads and bridges. If you’ve got a business, you didn’t build that. Somebody else made that happen.”

    “Yes, there have been fierce arguments throughout our history between both parties about the exact size and role of government — some honest disagreements. But in the decades after World War II, there was a general consensus that the market couldn’t solve all of our problems on its own.”

    “… Even my Republican friends who complain the most about government spending have supported federally financed roads and clean energy projects and federal offices for the folks back home. The point is, we should all want a smarter, more effective government.”

    Only government can break the vicious cycles that are crippling our economy, where a lack of spending leads to lost jobs which leads to even less spending.”

    We are either a society that empowers people and recognizes a government subordinate; a government that is of, by and for the people - or we are a society that believes government to be supreme and sovereign where the people are subordinate. It is America’s choice, and that choice is clear!

    Surely there are many whose dependency upon government and want for entitlement will cause them to vote for Mr. Obama; but when we become a ‘purchased’ and/or ‘dependent’ society (in the majority) we will have lost our freedoms and liberty; we will have become oppressed, subordinate and held hostage to a failed and unsustainable society in bondage.

    About the time our original thirteen states adopted their new constitution in 1787, Alexander Tyler, a Scottish history professor at the University of Edinburgh, had this to say about the fall of the Athenian Republic some 2,000 years earlier:

    A democracy is always temporary in nature; it simply cannot exist as a permanent form of government.

    A democracy will continue to exist up until the time that voters discover they can vote themselves generous gifts from the public treasury.

    From that moment on, the majority always votes for the candidates who promise the most benefits from the public treasury, with the result that every democracy will finally collapse due to loose fiscal policy, which is always followed by a dictatorship.

    The average age of the world’s greatest civilizations from the beginning of history has been about 200 years.

    During those 200 years, those nations always progressed through the following sequence:

    1. from bondage to spiritual faith;
    2. from spiritual faith to great courage;
    3. from courage to liberty;
    4. from liberty to abundance;
    5. from abundance to complacency;
    6. from complacency to apathy;
    7. from apathy to dependence;
    8. from dependence back into bondage

    This is our defining moment!

    Although we have known that Barack Obama believes the solution to the ills of our society is bigger and more intrusive government, his actions reveal an even more destructive and socialistic agenda. Whether in his imperialistic edicts and czar appointments that obviate Congressional and Constitutional authority; overburdening society with untenable and oppressive debt; neutering and subordinating America on the world stage; fracturing society through heightened class warfare; or creating a “purchased or dependent society” through government largesse, in each instance Mr. Obama elevates his socialistic agenda. Clearly we can see in Obama’s recent comments that government is the solution to all ills, and this will wake up many in America. However, the challenge remains whether our society will see the depth of his destructive agenda? What is clear is what Obama wants for America is not what American’s want for America.

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