http://www.nytimes.com/2008/11/19/opini … .html?_r=0
This is the original op-ed that Romney wrote in 2008. Some interesting tidbits...
"If General Motors, Ford and Chrysler get the bailout that their chief executives asked for yesterday, you can kiss the American automotive industry goodbye."
"It is not wrong to ask for government help"
"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 federal government should provide guarantees for post-bankruptcy financing and assure car buyers that their warranties are not at risk."
In 2008, it would have been OK for Obama to spend money investing in companies that were looking for new energy sources. However, in 2012, it would be irresponsible and an example of how the government is trying to pick winners and losers. Also, it isn't wrong to ask for government assistance or taking guaranteed money from the government.
In 2012 he wrote this op-ed
http://www.detroitnews.com/article/2012 … rand-scale
"The indisputable good news is that Chrysler and General Motors are still in business."
"Before the companies were allowed to enter and exit bankruptcy, the U.S. government swept in with an $85 billion sweetheart deal disguised as a rescue plan."
Romney was clearly wrong in his prediction that the auto industry would die. It is also only OK for the government to provide money to a company after it has left bankruptcy. Granted, this was a complicated transaction, however, you can't say that a loan from the government is a bad thing at one point while being perfectly acceptable at another point.
So, Mitt, is it a bad thing for the government to be investing in new energy sources or not? Should the government offer companies money or should they stay out of the way?
by Jimbo'daNimbo5 years ago
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What Will Happen if Mitt Romney Is Elected President?
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