Apparently David Letterman is upset about Obama's lies regarding Romney's comments about the car industry. Obama misrepresented (consciously) Romney's previous comments about how to deal with the auto-industry crisis a few years back. Romney said they should go through a managed bankruptcy with government backing. But, Obama has stated that Romney just wanted to let them go out of business with no backing, which is not at all what Romney said.
Here is video of Letterman:
Of course, I wish that Romney was advocating for letting business operate on their merits without government subsidies and supports. There is no reason why American auto industry could not be competitive. They were before unions took over the industry. Avoiding bankruptcy actually avoids the corrective and cleansing influence that the industry needs.
ReplyDeleteI agree. And, that's the point of competition, it requires more innovation and running your business at its highest efficiency to remain at the top of the marketplace. Government subsidies temporarily boost a company's bottom line while removing the incentive to do drive businesses in this way.
ReplyDeleteMItt said EXACTLY "Let Detroit Go Bankrupt" in his op ed article. Watch the whole letterman interview, see the rest, this is edited out of context, its here, read it, http://www.nytimes.com/2008/11/19/opinion/19romney.html
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