American Auto Industry Liquidation

The facts about one of the most amazing lies from the President in the Boca Raton debate. He said that Mitt Romney wanted to liquidate the American auto industry by just letting them go bankrupt. Mitt spoke of managed bankruptcy which is nothing like what OWE BOMB wanted you to think.  To view the exchange where this issue was discussed, click on youtube and you can take the slider to 1:19.00.

One thing you should know about the debate that would impress you beyond explanation if you knew this before the debate or even saw it reported in the media after.... but because he wasn't going to make it a big deal out of it... neither was someone who didn't want you to be impressed going to give you that info.... Mitt Romney was sick with a stomach flue or something of that sort.  The only time you would have seen anything to make you wonder would have been after the debate when he was mixing with the audience and his wife was holding on to him to support him because he was so weak.

So, what did Mitt really say?  We find in his op-ed article in the New York Times of November 18, 2008, these words;

"It is not wrong to ask for government help, but the automakers should come up with a win-win proposition. I believe the federal government should invest substantially more in basic research — on new energy sources, fuel-economy technology, materials science and the like — that will ultimately benefit the automotive industry, along with many others. I believe Washington should raise energy research spending to $20 billion a year, from the $4 billion that is spent today. The research could be done at universities, at research labs and even through public-private collaboration. The federal government should also rectify the imbedded tax penalties that favor foreign car makers.

But don’t ask Washington to give shareholders and bondholders a free pass — they bet on management and they lost.

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."

It is sad that we can't get any press time with these blatant lies, but I am hoping that some will read this and forward it as a fact check to the miss-information put forth by the press and this president.  This is just one of the lies told in this debate.... but I don't have time to go through them all and lay them out in detail, but this one was easy, and one I have heard other places and other times.

Another one that I havn't looked into but remember well was the idea that our military has changed and our Navy should go the way of the bayonets and horses.  It is easy to see this president knows nothing about the military because  I heard it reported that bayonet training is intensive and one of the first hand to hand combat training sessions. I remember one of the things about the Afghan war was that they had to use horses on the ground because some areas of the country you can't get equipment into. 

So thanks for the reminder Mr. President.... you really are out of your league and have no clue what is going on in this world.

Remember to vote....  so we can send this guy packin...

The Prez. in Iowa