Forgetting something, Mittens?
Feb. 18th, 2012 02:01 pmRomney’s latest game of historical revisionism comes by way of a campaign ad now airing in Michigan and an op-ed published Tuesday in the Detroit News.
In the ad, Romney implies that Obama was responsible for the auto industry’s collapse, describing the industry’s decline in the same breath that he says Obama “did all these things that liberals have wanted to do for years.”
That is false. The collapse of the auto industry began before Obama took office, and it was President George W. Bush who began the bailout of Chrysler and General Motors.
People in Michigan know this. They lived it.
Only after the feds delivered $80 billion in bailout funds, as part of a managed bankruptcy demanded by the Obama administration, did Chrysler and General Motors turn things around.
Last month, General Motors announced it had earned $8 billion in profits in 2011. Chrysler this month reported $225 million in profits for the fourth quarter of last year.
Right. And this coming from a candidate whose father seemed to have a much, much better grasp of the workings of the auto industry than Mittens ever will. Classy.