The Utter Bankruptcy of Barack Obama

From the third debate:

“If we had taken your advice, Governor Romney, about our auto industry, we'd be buying cars from China instead of selling cars to China.”

— Obama

 

“I said these companies need to go through a managed bankruptcy. And in that process, they can get government help and government guarantees, but they need to go through bankruptcy to get rid of excess cost and the debt burden that they'd built up.”

— Romney

So, what did Mitt Romney actually say?

"The American auto industry is vital to our national interest as an employer and as a hub for manufacturing. A MANAGED BANKRUPTCY MAY BE THE ONLY PATH TO THE FUNDAMENTAL RESTRUCTURING THE INDUSTRY NEEDS. It would permit the companies to shed excess labor, pension and real estate costs. THE FEDERAL GOVERNMENT SHOULD PROVIDE GUARANTEES FOR POST-BANKRUPTCY FINANCING AND ASSURE CAR BUYERS THAT THEIR WARRANTIES ARE NOT AT RISK.

In A MANAGED BANKRUPTCY, the federal government would propel newly competitive and viable automakers, rather than seal their fate with a bailout check. "

- Mitt Romney, Let Detroit Go Bankrupt (a title written by the New York Times), 18 November 2008

Romney never called for the liquidation of the auto industry.  He never said that we should "let Detroit go bankrupt."  He said that GM and Chrysler should go through managed bankruptcies with the government guaranteeing financing and warranties post-filing.  What Obama fails to say when lying to people about Romney's position on the auto bailouts is that BOTH GM AND CHRYSLER DID GO THROUGH MANAGED BANKRUPTCIES.

So, Obama lied about Romney calling for "letting Detroit go bankrupt" and he lied when he claimed that Romney never supporting the government guaranteeing financing, but what does Obama think about bankrupting industries?  Fortunately, we know because he told us so before he became President:

 “So, if somebody wants to build a coal-powered plant, IT'LL BANKRUPT THEM.”

- Barack Obama

Yes, Obama gave the order to kill Osama bin Laden, but as tens of thousands have reminded us with chants of "Obama, Obama, we are all Osama," "Take a picture Obama. We are all Osama,"and "Listen, listen Obama, we are all Osama," killing bin Laden was not the end of the war against radical Islam.  Like Hydra, when one head is cut off, another grows in its place.

So, maybe, Obama's slogan should be:

"The UAW is alive and the UMW is dead!!!"