Romney lets Dems hit him on autos deal
President Obama, Vice President Biden and the Democrat campaign team have been hammering Mitt Romney for — in their opinion — his heartless management at Bain Capital while bragging how the auto bailout they supported saved General Motors and Chrysler Corp.
Why hasn’t he pointed out that Bain Capital and the auto bailout accomplished the same thing — with the exception that Bain risked private funds and the bailout used taxpayer dollars that will never be fully repaid?
Both injected money into financially troubled companies that held promise for a profitable future if restructured. Both required companies receiving the financial boost to shut down unprofitable product lines and inefficient plants, forcing layoffs — in the hundreds or thousands at Bain and hundreds of thousands at GM and Chrysler (white collar, union and dealership jobs lost). Some Bain-controlled companies outsourced some jobs to stay competitive in certain markets. GM and Chrysler outsource parts for American-brand cars made in the USA and have some American-brand cars made in Canada and Mexico.
So, Gov. Romney, why let the Democrats keep getting away with making you out to be a heartless, job-slashing businessman while the president and vice president make themselves out to be heroes for doing the same thing with the auto bailout at General Motors and Chrysler Corp.?