Lansing, Michigan's Democratic Mayor Virg Bernero said on Tuesday evening that President Obama should get the credit for his state's recovery. "We're fresh off the auto rescue, and we know who is responsible for that, and that's Barack Obama," said Bernero, speaking on PoliticsNation. "What's going right in Michigan really has to be credited to President Barack Obama, because manufacturing is leading Michigan's recovery. ... If it hadn't been for Barack Obama and his plan to rescue the auto industry, we wouldn't be on the map economically."
Mayor Bernero was responding to Michigan's Republican governor Rick Snyder's remarks about the auto bailout to the New York Times in November of last year. Snyder said: “I would have had some differences on how they did it, but I’m not going to second-guess it. The more important thing is the results. And the auto industry is doing very well today.”
Snyder, who defeated Bernero in Michigan's 2010 gubernatorial election, appeared earlier that day at a Mitt Romney campaign event.
Romney wrote an infamous op-ed for the New York Times in November 2008 called "Let Detroit Go Bankrupt," in which he argued that the auto bailout would kill the Michigan's automotive industry. "Detroit needs a turnaround, not a check," Romney wrote.
"If we had followed Romney's advice and let them go bankrupt, we would have have been wiped off the map," Bernero said on Tuesday. "We would be in a depression, not a recession."
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I love how republicans have a philosophical hardon for angela merkel, and her austerity and balanced budgets. With a top effective tax rate of 75% and university subsidized to 500 euros a semester, GOD LET IT BE SO IN AMERICA.
Look to ireland, super low corporate tax, austerity 15% unemployment and a double dip recession. Does anyone remember hoover or know what he did to the economy? I had suspicions in the 80's as reagan began dissembling regulations and saftey measures in place since the depression, that it would lead to another financial calamity.
The republicans did this to roosevelt too, and there was a recession toward the end of the depression: cut cut cut, when the time was wrong to cut. The tax and regulation or lack there of of the 1920's and the 2000's lead to the same place. The difference this time was: FDIC, Social Security, & social programs for the poor in conjunction with the massive efforts of the recovery act and TARP.
Human greed caused the problems and government helped floor the collapse. Public investment is not the enemy, oil futures are. The uber class doesnt make capital investments unless it has to but it loves commodity futures.