Tuesday, August 07, 2012

New ad comes ThisClose to accusing Mitt Romney of Murder

This is rough stuff. But Mitt won't be undone! His new ad blames Obama for personally destroying some guy's dream to sell cars.

Of course, those of us familiar with Romney's track record at Bain know that its hypocritical x 10 for Mittens to complain about dream-wrecking. I'll let Eliot Spitzer of Slate Magazine explain why:
First, the raw facts: Romney opposed the bailout, preferring bankruptcy for Chrysler and General Motors. The Romney bankruptcy plan would have led to the loss of more than 1 million jobs. The bailout under Obama led to the revival of the industry, with more than 250,000 jobs added. Those facts are pretty indisputable. For Romney to assert that his was somehow the more sympathetic, job-protecting plan is simply a distortion of fact and history.

Second, everyone who examined the car industry agreed that it needed to be reorganized at many levels: work rules, pensions, speed of design, dealership structure, and more. It would have been irresponsible to simply throw money at the industry without demanding painful sacrifices. These changes eliminated much of the waste and left a leaner, more efficient industry.

But Romney knows this—it was his business model. It is precisely what Bain claims it did for its clients. Romney knows this is the essence of the creative destruction that can rebuild a more competitive industry. Pretending that anyone would, could, or should have invested huge sums in the auto industry without demanding change is simply irresponsible.

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