Auto bailout could be key to Obama vi...

Auto bailout could be key to Obama victory in Ohio

There are 50 comments on the The Kansas City Star story from Oct 24, 2012, titled Auto bailout could be key to Obama victory in Ohio. In it, The Kansas City Star reports that:

President Barack Obama's decision to help America's automakers could end up being what helps drive him back into the White House.Some 850,000 jobs in this critical battleground state are tied to autos and Obama's campaign constantly reminds voters they'd be jobless if not for the decision to inject taxpayer dollars into General Motors and Chrysler.

Join the discussion below, or Read more at The Kansas City Star.

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Been There Done That

Honaker, VA

#1 Oct 24, 2012
“You know, if we had taken your advice, Gov. Romney, about our auto industry, we’d be buying cars from China instead of selling cars to China,” Obama said.

WhyIChangedMyVote.com Obama was touting his role in the bailout of General Motors and Chrysler, which began under the Bush administration in late 2008.

In a New York Times opinion article in November 2008, Romney urged the government, as the headline said, to:“Let Detroit Go Bankrupt.”

“A managed bankruptcy may be the only path to the fundamental restructuring the industry needs,” Romney wrote.“The federal government should provide guarantees for post-bankruptcy financing and assure car buyers that their warranties are not at risk.”

PHOTOS: Memorable presidential debate moments
“In a managed bankruptcy, the federal government would propel newly competitive and viable automakers, rather than seal their fate with a bailout check,” he wrote.

A managed bankruptcy is quicker and less chaotic than a regular bankruptcy and allows a company to restructure its operations to make it stronger when it emerges from the process. The dispute comes down to whether a managed bankruptcy for General Motors and Chrysler would have been possible at the time without the government providing approximately $80 billion in financing to keep the companies running during the process.

Romney said Monday night he was not advocating allowing General Motors and Chrysler to go out of business.

“I was born in Detroit. My dad was head of a car company. I like American cars. And I would do nothing to hurt the U.S. auto industry,” he said.“My plan to get the industry on its feet when it was in real trouble was not to start writing checks.… I said they need -- 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.”
OldWhitey

Paris, TX

#3 Oct 24, 2012
Been There Done That wrote:
“You know, if we had taken your advice, Gov. Romney, about our auto industry, we’d be buying cars from China instead of selling cars to China,” Obama said.
WhyIChangedMyVote.com Obama was touting his role in the bailout of General Motors and Chrysler, which began under the Bush administration in late 2008.
In a New York Times opinion article in November 2008, Romney urged the government, as the headline said, to:“Let Detroit Go Bankrupt.”
“A managed bankruptcy may be the only path to the fundamental restructuring the industry needs,” Romney wrote.“The federal government should provide guarantees for post-bankruptcy financing and assure car buyers that their warranties are not at risk.”
PHOTOS: Memorable presidential debate moments
“In a managed bankruptcy, the federal government would propel newly competitive and viable automakers, rather than seal their fate with a bailout check,” he wrote.
A managed bankruptcy is quicker and less chaotic than a regular bankruptcy and allows a company to restructure its operations to make it stronger when it emerges from the process. The dispute comes down to whether a managed bankruptcy for General Motors and Chrysler would have been possible at the time without the government providing approximately $80 billion in financing to keep the companies running during the process.
Romney said Monday night he was not advocating allowing General Motors and Chrysler to go out of business.
“I was born in Detroit. My dad was head of a car company. I like American cars. And I would do nothing to hurt the U.S. auto industry,” he said.“My plan to get the industry on its feet when it was in real trouble was not to start writing checks.… I said they need -- 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.”
Hopefully people in Ohio can read and listen to the actual words from Romney and understand. He was suggesting getting rid of debt or debt restructuring, then having the government come in to guarantee loans. American Airlines is going through this exact thing in Texas. They are still up and running. Hopefully bankruptcy and a new start will now work for them. Obviously there are and will be layoffs to keep in the black. This happened to GM even with the government takeover. Dealerships were closed without regards to their profitability. Personally, I believe bankruptcy would have been a better long term solution.

Since: Apr 12

Location hidden

#6 Oct 25, 2012
Romney is a fricking idiot who has been running for POTUS for 10 years and he does not know where Iran is.

Romney does not know what a modern Navy consists of and what a battleship is.

Romney is a fricking moron.

Since: Apr 12

Location hidden

#7 Oct 25, 2012
OldWhitey wrote:
<quoted text>Hopefully people in Ohio can read and listen to the actual words from Romney and understand. He was suggesting getting rid of debt or debt restructuring, then having the government come in to guarantee loans. American Airlines is going through this exact thing in Texas. They are still up and running. Hopefully bankruptcy and a new start will now work for them. Obviously there are and will be layoffs to keep in the black. This happened to GM even with the government takeover. Dealerships were closed without regards to their profitability. Personally, I believe bankruptcy would have been a better long term solution.
Obama saved 1 out of 8 Ohio jobs that rely on the auto industry. Romney just cares about the $15M he made off of the bailout that he still spits on.

Romney is a fricking scumbag con man who doesn't care if people lose their jobs, their families, those homes, their lives as long as he gets his millions.
Really

Portland, TX

#8 Oct 25, 2012
OregonSUX wrote:
<quoted text>
Obama saved 1 out of 8 Ohio jobs that rely on the auto industry. Romney just cares about the $15M he made off of the bailout that he still spits on.
Romney is a fricking scumbag con man who doesn't care if people lose their jobs, their families, those homes, their lives as long as he gets his millions.
Yea oblamer saved some jobs in ohio, but FAILED! to send any help to our people in lybia, People are way more important than a job! He is going to LOSE because of Lybian scandal....lol.

Since: Apr 12

Location hidden

#9 Oct 25, 2012
"For all you moronic GOP fools working yourselves up in a lather over this, don't get too excited.

During Reagan's FIRST administration, the Beirut embassy was bombed, killing 43 people including 15 Americans. Bad situation, in of itself, but compounded later on that same year by the bombing of the Marine Corps barracks, killing 241 Marines.

Would you love to know about the intel and administrative "coverups" during those two fiascos, or would you rather just remember he was REELECTED the next year?

Thought so."

CB

Since: Apr 12

Location hidden

#10 Oct 25, 2012
"Although it is unclear whether a quicker Libyan response could have ensured that the Americans, including Doherty and Woods, were out of the safe house before it was hit the second time, the delay does underscore the messy security situation a year after the revolution that ended Moammar Kadafi's rule. Militias rather than the central government are responsible for security across the country, and Libyans involved in the operation said the slow response was due to confusion between government officials and militia leaders.

"It was our first time in an operation like this," said Qais Ben Hamid, a deputy commander in Benghazi for Libya Shield, the pro-government militia that led the evacuation and is widely seen as the precursor to a new national army.

Libyan officials have pledged to help bring the Americans' attackers to justice, but they also face a more fundamental challenge: cobbling together a new army and police out of Kadafi's discredited security forces and the militias that sprang up during the revolution.

Militias are responsible for keeping the peace, arresting suspects and guarding sensitive facilities such as hospitals and diplomatic missions, including the U.S. diplomatic outpost in Benghazi. Many of the largest armed groups report to the military chief of staff in Tripoli, forming a shadow army far more powerful than the official forces.

But the various groups don't always communicate effectively — a major reason for the confusion in the early hours of Sept. 12." LAT

Since: Apr 12

Location hidden

#11 Oct 25, 2012
"A third Romney senior adviser, who spoke on the condition of anonymity, told The Huffington Post that Romney avoided the issue in part because he expected Obama to be equipped with a prepared response.

Indeed, throughout the debate it was Obama who repeatedly returned to the issue of Libya, speaking about it at some length in his opening remarks and later raising it during a discussion about Syria, as an illustration of the complexity of presidential decision-making.

In the second presidential debate, at Hofstra University in Long Island, Romney had stumbled in his attempt to challenge Obama over the details of the administration's Libya response, allowing the president to offer a strong rebuttal." JH



Oh come on, Romney PROVED that he doesn't even know where Iran is.

Romney is a MORON.

Since: Apr 12

Location hidden

#12 Oct 25, 2012
Romney has repeated the 'I have no idea where Iran is' gaffe SIX TIMES.

Romney is demented.
It is what it is

Mokena, IL

#13 Oct 25, 2012
Gm shuts down 10 facilities and moves to China... Now Jeep is considering taking ALL production there.
http://washingtonexaminer.com/jeep-an-obama-f...

Since: Apr 12

Location hidden

#15 Oct 25, 2012
"How ObamaCare Changed My Life

I have undergone more than 20 surgeries in the last six years and I have endured more pain than I ever knew I could bear. Since my condition is very poorly understood, I have to be treated at particular hospitals, such as the University of Chicago Medical Center and the Mayo Clinic. I honestly don't know where I would be without these hospitals and I am so thankful for all they've done for me.

I have been raised by a single father and I've been very fortunate that his health insurance plan has allowed me to receive the treatment I need. After the onset of my health problems, my dad and I had to constantly worry about what would happen when I could no longer stay on my his health insurance plan. It would have been very difficult, if not impossible, for me to get coverage because of my many surgical procedures and pre-existing condition. Would I be able to continue treatments? Would I have to take out a great deal of money in loans to try to pay for my surgeries? These are just two of the many unanswered questions that ran through my mind constantly.

However, everything changed when President Obama signed the Affordable Health Care Act, more commonly known has ObamaCare, into law. For my friends and classmates, the passage of this bill was merely a political issue, but for me it one of the best things that has ever happened to me. As a result of ObamaCare, I will be able to stay on my dad's health insurance plan until age 26 and won't be denied coverage because of my pre-existing condition.

As I grow into adulthood, I can focus on my health and my future rather than having to consume my energy with trying to get health insurance." JR

All Americans will get this peace of mind and massive reduction of risk ONLY if Obama is reelected.

Romney will trash RomneyCare-ObamaCare and kill Medicare in 2016.

Romney wants Americans to be poor, sick, bankrupt and, then, dead.

Since: Oct 12

Mississauga, Canada

#16 Oct 25, 2012
OldWhitey wrote:
<quoted text>Hopefully people in Ohio can read and listen to the actual words from Romney and understand. He was suggesting getting rid of debt or debt restructuring, then having the government come in to guarantee loans. American Airlines is going through this exact thing in Texas. They are still up and running. Hopefully bankruptcy and a new start will now work for them. Obviously there are and will be layoffs to keep in the black. This happened to GM even with the government takeover. Dealerships were closed without regards to their profitability. Personally, I believe bankruptcy would have been a better long term solution.
But at the TIME, the private loans which would be required by the private sector would not and could NOT have been made BECAUSE the private sector and financial institutions were in a wreck and were in NO position to help.
Whereas the government at the time could.
Linked in

Birdsboro, PA

#17 Oct 25, 2012
The Detroit News (yeah, THAT Detroit) came out today with their Presidential endorsement.

"We recognize and are grateful for the extraordinary contribution President Obama made to Michigan in leading the rescue of General Motors and Chrysler. Had either of those companies been allowed to go under, Michigan's economic maladies would have become fatal."

But,

"It is important to remember that the automobile industry is never truly "saved;" there are always new challenges. Romney will be an advocate for Detroit, and if he can make the overall economy stronger, Michigan and the automakers will benefit greatly.

A country built on rugged individualism finds itself increasingly under the thumb of a federal government that is ever expanding its reach into the lives of its citizens.

Obama has proved himself a disciple of the doctrine that for every problem there's a government solution.

Romney, by contrast, embraces individual initiative and entrepreneurship. He would turn back the encroachment of the bureaucracy into the private sector.

Romney would replace the heavy hand of government with the invisible hand of a rational marketplace working to produce broad prosperity.

While both poverty and dependency have increased on Obama's watch, Romney promises to replace government checks with private sector jobs and reverse the decline in middle class incomes. It is heavy lifting, but we favor the candidate who is committed to it.

Romney's goal is to help all Americans live independent and productive lives, free to rise to the extent of their personal capabilities. He would not shield them from risk or the consequences of their decisions, but neither would he deny them their earned rewards.

Our hope is that Mitt Romney would restore faith in the core principles of free men and women, free minds and free markets that made America great, and will keep it so."


http://www.detroitnews.com/article/20121025/O...

Since: Apr 12

Location hidden

#18 Oct 26, 2012
Total BS. They admit they are conservative (not really, just stupid) endorsing a conservative (ditto) candidate and then they go making incredibly stupid junior high level drivel about Keynesian economics.

This is reality:

Romney on Auto Bailout: "Let Detroit Go Bankrupt"

Romney On Auto Bailout:'If You Write A Check, They're Going To Go Out Of Business'

Romney On Auto Bailout: I am hiding the $15M I made on the Auto Bailout.

Romney On Auto Bailout: I am a disgusting, lying creep.

"Romney Company Shipped Every Single Delphi UAW Job to China" GP
What

Portland, TX

#19 Oct 26, 2012
OregonSUX wrote:
"A third Romney senior adviser, who spoke on the condition of anonymity, told The Huffington Post that Romney avoided the issue in part because he expected Obama to be equipped with a prepared response.
Indeed, throughout the debate it was Obama who repeatedly returned to the issue of Libya, speaking about it at some length in his opening remarks and later raising it during a discussion about Syria, as an illustration of the complexity of presidential decision-making.
In the second presidential debate, at Hofstra University in Long Island, Romney had stumbled in his attempt to challenge Obama over the details of the administration's Libya response, allowing the president to offer a strong rebuttal." JH
Oh come on, Romney PROVED that he doesn't even know where Iran is.
Romney is a MORON.
Joe Biden and harry reed do, shoot they even know people who recently served in the latest war we had with Iran....lol.
OldWhitey

Paris, TX

#21 Oct 28, 2012
Bocado wrote:
<quoted text>
But at the TIME, the private loans which would be required by the private sector would not and could NOT have been made BECAUSE the private sector and financial institutions were in a wreck and were in NO position to help.
Whereas the government at the time could.
I don't believe that is correct. The feds had to borrow money from China to survive as well. The government eventually took GM into bankruptcy just as Romney had suggested. GM ran by our government, in competition with Ford who did not take money. GM began paying money back, but used government funds to do so. Yes, GM borrowed the money it used to begin paying back tarp funds. We haven't touched on whether the market would have picked up the lost jobs, ie Ford.

Something else not mentioned is coal. Ohio jobs will definitely be lost when new EPA guidelines are actually implemented.

PS: Good luck in your elecion process. I am not a repub, vote independent.
OldWhitey

Paris, TX

#22 Oct 28, 2012
OregonSUX wrote:
"How ObamaCare Changed My Life
I have undergone more than 20 surgeries in the last six years and I have endured more pain than I ever knew I could bear. Since my condition is very poorly understood, I have to be treated at particular hospitals, such as the University of Chicago Medical Center and the Mayo Clinic. I honestly don't know where I would be without these hospitals and I am so thankful for all they've done for me.
I have been raised by a single father and I've been very fortunate that his health insurance plan has allowed me to receive the treatment I need. After the onset of my health problems, my dad and I had to constantly worry about what would happen when I could no longer stay on my his health insurance plan. It would have been very difficult, if not impossible, for me to get coverage because of my many surgical procedures and pre-existing condition. Would I be able to continue treatments? Would I have to take out a great deal of money in loans to try to pay for my surgeries? These are just two of the many unanswered questions that ran through my mind constantly.
However, everything changed when President Obama signed the Affordable Health Care Act, more commonly known has ObamaCare, into law. For my friends and classmates, the passage of this bill was merely a political issue, but for me it one of the best things that has ever happened to me. As a result of ObamaCare, I will be able to stay on my dad's health insurance plan until age 26 and won't be denied coverage because of my pre-existing condition.
As I grow into adulthood, I can focus on my health and my future rather than having to consume my energy with trying to get health insurance." JR
All Americans will get this peace of mind and massive reduction of risk ONLY if Obama is reelected.
Romney will trash RomneyCare-ObamaCare and kill Medicare in 2016.
Romney wants Americans to be poor, sick, bankrupt and, then, dead.
Which is complete bs. States already had dependent coverage extensiions. Texas already covered dependent children to age 25. Florida to age 30. There were already laws in effect in states that do away with pre-existing conditions when had prior coverage for at least 12 months. There were already guaranteed issue state plans as well.
conservative crapola

Orefield, PA

#23 Oct 28, 2012
Obama: saved the auto jobs on Ohio.

rugby plan? "Let Detroit Go Bankrupt"...and with it, the collapse of the Ohio auto industry, suppliers & families.
OldWhitey

Paris, TX

#24 Oct 28, 2012
OregonSUX wrote:
"How ObamaCare Changed My Life
I have undergone more than 20 surgeries in the last six years and I have endured more pain than I ever knew I could bear. Since my condition is very poorly understood, I have to be treated at particular hospitals, such as the University of Chicago Medical Center and the Mayo Clinic. I honestly don't know where I would be without these hospitals and I am so thankful for all they've done for me.
I have been raised by a single father and I've been very fortunate that his health insurance plan has allowed me to receive the treatment I need. After the onset of my health problems, my dad and I had to constantly worry about what would happen when I could no longer stay on my his health insurance plan. It would have been very difficult, if not impossible, for me to get coverage because of my many surgical procedures and pre-existing condition. Would I be able to continue treatments? Would I have to take out a great deal of money in loans to try to pay for my surgeries? These are just two of the many unanswered questions that ran through my mind constantly.
However, everything changed when President Obama signed the Affordable Health Care Act, more commonly known has ObamaCare, into law. For my friends and classmates, the passage of this bill was merely a political issue, but for me it one of the best things that has ever happened to me. As a result of ObamaCare, I will be able to stay on my dad's health insurance plan until age 26 and won't be denied coverage because of my pre-existing condition.
As I grow into adulthood, I can focus on my health and my future rather than having to consume my energy with trying to get health insurance." JR
All Americans will get this peace of mind and massive reduction of risk ONLY if Obama is reelected.
Romney will trash RomneyCare-ObamaCare and kill Medicare in 2016.
Romney wants Americans to be poor, sick, bankrupt and, then, dead.
Ohio covered dependents to age 28 before Obamacare. http://codes.ohio.gov/orc/1751.14

Pre-existing had already been addressed by the states.
http://blog.heritage.org/2011/01/19/hhs-repor...
xxxrayted

Brook Park, OH

#25 Oct 28, 2012
conservative crapola wrote:
Obama: saved the auto jobs on Ohio.
rugby plan? "Let Detroit Go Bankrupt"...and with it, the collapse of the Ohio auto industry, suppliers & families.
Good name considering your posts: crapola.

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