Thursday, November 10, 2011
In 2008-09 the Bush Administration as well as the Obama Administration bailed out the Banking Industry and Auto Industry in America. I didn't agree with how they did that will the billions actually 1T$. In total they borrowed to bail out both Wall Street and Detroit, which was necessary to do. To save those crucial American Industry's in America and I didn't agree with how they went about. Saving those industry's, especially with an already 1T$ Federal Deficit. I would've paid for this program up front by setting up some type of an Insurance Fund to pay for it. But it worked the Banking Industry and Auto Industry were both saved and are both doing very well in an economy. Where most of the rest of the economy is not doing well. But imagine America without a functioning Banking System, we would probably be a Third or Fourth World Nation like Afghanistan. Imagine America without an Auto Industry or maybe we just one Auto Company, which would've been Ford Motor Company. They were the only American Auto Company that was able to avoid going bankrupt in 2008-09. That would've meant FMC would've had an Auto Monopoly on American Cars. We had to save both General Motors and Chrysler Motors in 2009, for our economy. Our Auto Industry and the City of Detroit which has sunk the last ten years, the American Auto Industry represents over a million jobs in the Detroit Area. A large Metro Area of around 5M people and more then a million jobs in Michigan, a State of around 12M people. One of the largest States in the Union. And more then that in the Midwest, where the Auto and Manufacturing Industry's are critical.
When Mitt Romney says he believes Detroit should've gone bankrupt and laid off an additional 1M people in Michigan. A State which has probably suffered the most in the "Great Recession". In an economy that can't afford to lose any more jobs, he's showing how out of touch he is on the economy. And why people have said he looks like the guy who fired me or my father, a CEO without a heart. And if he has any hopes of winning his old State where he was born and raised. Or win States in the broader Midwest that he's going to have to have, to win the Republican Nomination. Or be elected President of the United States, he's going to have to reconsider his position on Detroit a City that looks like is just finally starting to rebuild. The Auto and Manufacturing Industry's as well as the city itself and the Auto Bailout was part of that. Jobs were actually saved and created as a result of the Auto Bailout while Mitt Romney was against it and still is. And would've instead forced General Motors and Chrysler Motors to go bankrupt. Two of the big three in America and two of the largest Auto Company's in the World. Which would've cost Detroit and Michigan another million jobs when they can't afford it.
Mitt Romney or as prefer to call Flip Flopper, I don't believe has much if any chance winning a State or a Region. Being for a policy that would've cost them millions of jobs. In a State and Region that now has Double Figure Unemployment and has had that for three years now. And we'll probably see Flip Flopper Flip Flop once again, like on abortion, Gay Rights, Healthcare Reform. Go down the line if he believes he needs Michigan and the Midwest to get elected President.