Under President Obama, GM and Chrysler DID go Bankrupt - Mitt Would’ve Saved US Billions

There is a lot of talk these days about the auto industry and American manufacturing, and rightly so. These are extremely important industries for our country. Afterall, Romney was the son of the late auto executive, George Romney, who turned around American Motors Corp. and made the company a major player on the world stage of auto manufacturing.

Mitt Romney has always expressed his great fondness for the auto industry as a direct result of his upbringing with his father. Mitt Romney is a self-described “car nut” and the notion that he wouldn’t have supported the auto industry through bankruptcy is simply preposterous.

Did Mitt Romney really say “Let Detroit Go Bankrupt”?

First, a quick but important side note. Mitt Romney didn’t actually write the title “Let Detroit Go Bankrupt” for his column in the New York Times, the editors at the paper did. Democrats like to pretend that Romney actually said those exact words but he did not.

Second, and more importantly, Romney knew that bankruptcy was the only way for General Motors to get rid of its excessive costs. In fact, Barack Obama often claims that he “saved the American auto industry” but even Barack Obama required the company to go through bankruptcy. Both Barack Obama and Mitt Romney knew that GM’s bankruptcy was inevitable and both men required GM to go through bankruptcy.

Americans are smart enough to realize that Mitt Romney, because of his upbringing, has a great love for the American auto industry and he would have supported it as it went through the bankruptcy process. The people of Michigan and Ohio are smart enough to know that Barack Obama pretends that he did something totally different from Mitt Romney but Obama also required GM to go through bankruptcy. The only difference is that Mitt Romney knew that bankruptcy was inevitable a year or so before Obama did.

It is interesting to note that George W. Bush actually started the auto bailouts and then Barack Obama expanded them.

What about manufacturing and how it relates to the auto industry?

The root of America’s difficulties in manufacturing come from a single source: China. It is widely known by both Democrats and Republicans that China is cheating on trade. China is intentionally suppressing the value of their goods and services so that they can undercut American industries by selling goods at a lower cost than American companies. China’s leaders have publicly admitted as much.

In 2007, Barack Obama promised that he would stop China’s predatory and unfair policies saying: “China has manipulated its currency for years in order to gain an unfair advantage over the United States on trade. Unfortunately the Administration has failed to effectively challenge or change China’s behavior.”

Another broken promise by Barack Obama. Obama’s soaring campaign rhetoric so rarely translates into actual deeds done. Unfortunately, Obama’s inability to address China has led to American manufacturing’s continued struggles against an unfair competitor.

Mitt Romney, on the other hand, has said that on his first day in office, he will label China a “currency manipulator.” His first day. Labeling China a currency manipulator is the strongest step America can take to help level the playing field against China and force them to change. Successfully labeling China as such would require the World Trade Organization to take action against China and its policies.

Obama has had four years to change China. He has been unable to bring about the change he promised. Mitt Romney has vowed to take the strongest step possible against China in order to help America’s manufacturers, including manufacturers associated with the auto industry.

@JoeBiden Said that the Workers of Delphi Did ‘fine.’ What Do the Workers Say? VIDEO:

Non-union Delphi employees were given less favorable benefits than union employees during the auto bailout and GM restructuring. Despite Vice President Joe Biden saying that “most did fine,” they don’t agree.

Being a resident of Michigan where the entire election seems to rest on the issue of the auto bailout, I loved this web ad! We know that Gov. Romney will fight for every automotive job as President, but so many in Michigan have been brainwashed by the democrats into thinking Gov. Romney wanted the auto companies to liquidate. This video adds a very intriguing wrinkle to the whole issue that will help voters see one of the areas President Obama’s auto plan failed.

Also, in case you missed it, Hot Air scored an interview with Gov. Romney which we’ve posted below:

Finally, watch a short clip of Mitt’s speech from yesterday below the fold with a link to some very interesting commentary below the fold. (more…)

Mitt Romney Comes to Michigan and Liberals Have a Hissy Fit

Gov. Romney continues to have the best chance to defeat President Obama in 2012 and the President’s supporters know it. Former Michigan Governor Jennifer Granholm decided to welcome Gov. Romney to Michigan with a ridiculous op-ed for Politico titled “Let Romney Go Bankrupt” pleading with Michiganders not to donate to Gov. Romney’s campaign. She and the protesters outside the Livonia Coney Island claim that Gov. Romney wanted the auto companies to go out of business and essentially disappear when quite the opposite is true. Romney said if the auto companies had “gone through regular bankruptcy, we’d have saved $17 billion.” Instead, he said, the UAW ended up with a large ownership stake and stockholders and bondholders were hit financially worse than they would have been.

I know the UAW protesters are paid to protest and don’t actually understand the issues (one of them even called me a derogatory term used to demean homosexuals because I was wearing my Mitt Romney 2012 shirt), but Granholm knows she’s lying when she says Gov. Romney doesn’t support the domestic auto industry. Mitt’s dad, George Romney, ran a Detroit automaker before he became a 3-term Governor of Michigan for goodness sakes. Maybe Gov. Granholm is still smarting from the debate she lost with Mitt on Meet the Press during the auto bailout debate…

If anyone wants to read Mitt’s original op-ed that was given its title by the New York Times, you can read it here. As you can see from both Mitt’s original article that liberals only ever reference the title of and Mitt’s own words during the debate, Mitt never wanted the domestic auto makers to go out of business. Being the forward-thinking businessman he is, Mitt knew the companies could only survive and thrive in the future by going through a structured bankruptcy. The bailout money was a waste because GM and Chrysler ended up going through the bankruptcy that money was supposed to prevent.

Despite the best efforts of the protesters, Gov. Romney had a very successful event. His trip to Michigan has been talked about on the local radio stations and been in the news for several days now and Mitt attracted quite a crowd. People were asking Mitt to sign all kinds of things, but baseball mitts were my favorite. Well, the fact that Mitt signed the latest copy of Newsweek was interesting as well. When he saw it, he said “That’s pretty funny isn’t it”. Later. a man stood up on the counter at the Coney Island and sang he own rendition of “When the Saints Go Marching In” where he changed to words to “When Romney comes marching home again…” Mitt won the Michigan primary handily in 2008 and he leads here again. I expect Mitt to win Michigan in the general election against President Obama, but the democrats are going to continue to fight tooth and nail to keep Michigan blue.

Mitt stayed much longer than his driver, who was driving the new Chrysler 300, wanted because Mitt kept sitting down to talk to people. Mitt finally got dragged out of there to head to Bizdom U in Detroit, but before he could, he was confronted by a misinformed person who was saying that Mitt shouldn’t be allowed in the state of Michigan anymore and that he’s a traitor. I haven’t seen Mitt do this before in person, but he turned around the face the accuser and instantly the media pushed in forcing Mitt and the other person to be face-to-face. I could see it in Mitt’s eyes that he was hurt and angry that someone was suggesting that Mitt shouldn’t be allowed to visit the state he was born in, grew up in, met his wife in, and still has a lot of family in. He told the accuser that he was misinformed and explained what his position on the auto bailout has always been. The media ate it up, so I hope to see some videos of this confrontation soon.

For anyone who doesn’t know what Bizdom U is all about, Bizdom U provides comprehensive, real-world training, mentorship, and support for entrepreneurs who have a burning passion and determination to build a growth-oriented, Detroit-based or Cleveland-based business. Hopefully we’ll be able to post some details from the Bizdom U visit soon.

VIDEO of the Coney Island event, a photo of Mitt at the roundtable discussion at Bizdom U, and Mitt’s radio interview with Frank Beckmann below the fold: (more…)