Stay Connected

After Clearly Opposing President Obama’s Successful Auto Rescue, Mitt Romney Is Trying to Take Credit for It

Mitt Romney is trying to take credit for President Obama’s successful rescue of the auto industry, which saved more than a million jobs when we could least afford to lose them. Romney is hoping we forget that when the industry was on the verge of collapse, he said we should “let Detroit go bankrupt.”

Mitt Romney said this week he will “take a lot of credit” for the success of America’s automakers. He’ll say anything to get elected.

Romney thinks we don’t remember what he says. That’s not the kind of character we want in a President. We need a leader who always tells us where he stands, not someone who repeatedly lies and says anything to get elected:

  • Romney aired an attack ad, and then claimed he didn’t know anything about it – even though at end of it, you can hear his voice saying he approved them.
  • Romney’s lied about his hunting record and about the guns he didn’t own.
  • Romney also talked about remembering a parade that happened years before he was born, and falsely claimed his dad marched with Martin Luther King.

Romney is trying to rewrite history again. Romney suggests that the car companies should’ve used private financing to restructure, ignoring the widely recognized fact that that could never have happened.

  • The credit markets were frozen solid when the auto industry was on the verge of collapse. There was no private financing available – even Romney’s old firm, Bain Capital, refused to help finance the auto rescue.
  • Finance and bankruptcy experts agree: letting Detroit go bankrupt, as Romney wanted, would’ve destroyed some of America’s most iconic companies and would have been a total catastrophe for America’s best workers.
  • In exchange for emergency rescue loans, President Obama demanded tough concessions and shared sacrifice from both labor and management. And in return, America’s carmakers are retooling and creating energy-efficient cars of the future.
  • Romney called the President’s bold decision “tragic” and said it would make GM into “the living dead.” He was wrong then, and he’s wrong now.

The President’s tough and decisive action, which Romney opposed, is paying off. Detroit is building cars of the future and America’s carmakers are creating jobs.

  • GM and Chrysler repaid their outstanding government loans years ahead of schedule. GM is once again the world’s top carmaker.
  • The auto industry added more than 230,000 jobs since June 2009, and 2011 was the strongest year of industry job growth since 1994.
  • Demand for American cars is going up, so GM, Ford and Chrysler are starting to run three production shifts a day at plants across the country. More shifts and new facilities mean jobs for thousands more workers in Michigan and Ohio.
  • Even Romney’s own supporters can’t believe Romney’s latest indefensible comment. Senator John McCain, one of Romney’s top surrogates and supporters, was astonished when he heard about it.