Entries in Auto Bailout (4)


Paul Ryan and Joe Biden Face Off on Auto Bailout

Joe Raedle/Justin Sullivan/Getty Images(RACINE, Wis.) -- Paul Ryan wrapped up his two-day tour of his home state on Wednesday with an event in his own district, blasting opponent Joe Biden in a back and forth the two had throughout the day on the auto bailout.

“Everybody wants a strong and vibrant auto sector,” Ryan said to an enthusiastic crowd in Racine, Wis.  “We want a strong manufacturing sector.  But today, you might have heard that Joe Biden was at it again.  Today, he was talking about the government bailout, which they keep touting as an unqualified success story… Chrysler in particular we know this story, are now choosing to expand manufacturing overseas.  These are the facts.  Those facts are inconvenient for the president, but no one disputes them.”

Not quite.

Earlier Wednesday in Sarasota, Fla., the vice president slammed the Romney campaign for a misleading ad that suggests the president allowed Chrysler to move Jeep operations to China, calling it an “outrageous lie,” an act of “desperation,” and “one of the most flagrantly dishonest ads I can ever remember in my political career.”

And executives at both GM and Chrysler have spoken out against the ad, calling it factually incorrect.

The Romney campaign entered the fray as well, issuing a statement from the GOP vice presidential nominee doubling down on the ad’s claims saying, ”GM and Chrysler are expanding their production overseas.”

The slugfest of words continued.  Biden, responding to the statement, borrowed a buzz phrase from the president, saying the Wisconsin congressman had caught “Romnesia.”

“The facts are that Romney will say anything, anything to win,” Biden said in Ocala, Fla.  “Ladies and gentlemen, the role of the president is not to show confusion, but to show confidence.  That’s the role of the president!”

He also pointed out that Ryan himself was one of 32 House Republicans to vote for the auto bailout.

A new poll out Wednesday from Marquette University Law School shows a lead for the president in Ryan’s home state, with Obama at 51 percent and Romney at 43 percent.  The latest ABC News/Washington Post poll out Wednesday afternoon has the race tied nationally, with both Romney and Obama at 49 percent support.

With just five days left, Ryan heads back on the campaign trail Thursday with stops in Colorado and Nevada.

Copyright 2012 ABC News Radio


New Romney Ad Hits Obama on Auto Bailout

JEWEL SAMAD/AFP/GettyImages(WASHINGTON) -- Mitt Romney’s campaign released a new ad on Wednesday hammering President Obama on the auto bailout before the president’s trip to Ohio.

The ad, titled “Dream,” highlights the story of former Ohio auto dealership owner Al Zarzour, who lost his business during the 2009 bailout of General Motors.

“I received a letter from General Motors,” Zarzour says amid images of a shuttered auto dealership.  “They were suspending my credit line.  We had 30-some employees that were out of work.”

“My wife and I were the last ones there," he continues.  "You know, it was like the dream that we worked for, and that we worked so hard for was gone.”

Romney has argued that the auto bailout was not the appropriate measure to deal with the auto crisis and instead pushed for a “managed bankruptcy.”

Responding to the ad Wednesday, Obama for America spokesperson Frank Benenati said in a statement: "Let’s get this straight -- the very person who argued for the U.S. auto industry to go bankrupt, something that would have caused more than a million jobs lost and utter economic devastation in the midwest, is now trying to attack the president on how it was handled?  This ad in Ohio is a new low for the Romney campaign, and instead of trying to deceive Ohioans they should get their facts straight because there are now 2,200 more Ohioans employed in dealerships than when the president took office."

"While the President was busy saving the U.S. auto industry -- which has 1 in 8 Ohio jobs tied to it -- Mitt Romney was busy arguing that we should turn our backs on an iconic industry and the workers in Ohio.  The Romney campaign will say anything in this election, and this ad is proof positive of that," the statement continued.

In addition to the ad, the Romney campaign released a web video called “Time for a Change,” hitting Obama on unemployment.

Obama, who will campaign in Mansfield and Akron, Ohio on Wednesday, released a new ad of his own Tuesday in six battleground states: Colorado, Florida, Iowa, New Hampshire, Nevada, and Ohio.  The spot casts Romney as someone who would increase the deficit in the same way as President George. W. Bush.

Copyright 2012 ABC News Radio


Mixed Views on Three Key Issues Mark Obama’s Campaign Challenges

JIM WATSON/AFP/Getty Images(NEW YORK) -- Americans give President Obama mixed marks on three prominent issues he’s touted in his bid for re-election in the latest ABC News/Washington Post poll, with no scores above 50 percent on either the auto industry bailout, greater regulation of financial institutions or -- most basic -- the administration’s economic stimulus program.

Middling ratings on each of these denote some of the president’s challenges in the campaign now officially under way.  While he’s substantially more popular personally than the presumptive Republican nominee, Mitt Romney, Obama is vulnerable on key issues.

The poll finds that Americans divide almost exactly evenly on the administration’s economic stimulus program, with 47 percent seeing it favorably overall, 48 percent unfavorably. 

It’s a bit better for Obama on the auto industry loans, 50-43 percent, and financial industry regulation, 49-44 percent.

But none of these reaches majority favorability -- and the intensity of sentiment on the stimulus is much more strongly negative than positive.

Obama has cited his performance on these issues, among others, in making his case for re-election.  But this poll, produced for ABC by Langer Research Associates, finds responses sharply divided by political allegiance and ideological preference.

In likely the president’s biggest risk, independents rate the economic stimulus negatively by 50-44 percent.  They’re less negative (indeed slightly positive) on the automaker loans and regulation of financial institutions, but it’s the economy that dominates voter concerns.

Political independents are the key swing voters in national elections, and at 41 percent of the population, they outnumber Democrats and Republicans alike in this survey, 33 and 23 percent, respectively.

Among partisans, anywhere from 66 to 74 percent of Democrats and liberals have positive views of Obama’s work on these issues, compared with a paltry 16 to 26 percent of Republicans and 24 to 35 percent of conservatives.  Moderates are more positive than negative on all three, but again most closely on the economic stimulus.

As noted, intensity of sentiment on the stimulus is against the president: Among all Americans, many more rate the economic stimulus strongly unfavorably, 31 percent, as strongly favorably, 18 percent.  It’s a similar 31 vs. 15 percent among independents.  Strong sentiment on the automaker loans and financial industry regulations is more evenly divided.

Copyright 2012 ABC News Radio


Reid Blasts Romney on Auto Bailout Opposition

Alex Wong/Getty Images(WASHINGTON) -- On the day of the Michigan primary, Senate Majority Leader Harry Reid opened up the Senate floor by blasting Republican presidential hopeful Mitt Romney for opposing the $82 billion auto bailout in 2008.

“It was about saving millions of Americans who worked for these corporations,” Reid said on the Senate floor. “It wasn't about saving the people who own race cars; it was about saving the people who work on assembly lines making the parts to keep those race cars running.”

Reid said Democrats weren’t willing to give up on American manufacturing because they knew that saving the auto industry “wasn’t about saving corporations,” but saving American jobs.

By way of comparison, Reid quoted Romney’s November 2008 op-ed in The New York Times entitled “Let Detroit Go Bankrupt,” in which Romney wrote, “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 won’t go overnight, but its demise will be virtually guaranteed.”

With the American auto industry now having added 160,000 jobs over the last two years, Reid said the “test of character” now is if a person, like candidate Romney, admits a mistake.

“When a Republican presidential frontrunner said we should kiss the American automobile industry goodbye, he couldn't have been more wrong,” Reid said. “We all make mistakes. We all get one wrong occasionally. The test of character is admitting when we make that mistake. And it's time for Republicans to recognize that saving Americans and their automobile manufacturing industry, saved the American automobile manufacturing industry and millions of middle-class jobs was the right thing to do.”

Copyright 2012 ABC News Radio

ABC News Radio