Skip to main content
Tags: auto | bailout | obama | election

Democrats Avoid Use of Term ‘Bailout’ When Citing Auto Intervention

By    |   Friday, 19 October 2012 02:33 PM EDT

President Barack Obama has touted his auto bailout as a resounding success, but he and other Democrats are running from the term “bailout,” describing it as an “auto rescue” instead.

The White House and Congress agreed to put $80 billion into the auto companies, starting with President George W. Bush. Obama has used the bailout as a main pillar of his campaign in Midwestern swing states like Ohio and Iowa, The Hill reports.

Bailouts have taken a negative connotation as the public has come to loathe the bailout of the financial services industry.

Even former President Bill Clinton sought to avoid the term while campaigning for Democrats last week. He spoke in detail about the auto bailout but rejected use of the label.

"We are growing manufacturing jobs, and there is no more clear example of this than what happened in the automobile restructure," he said. "I don't like when it's called a bailout because it's not fair. No banks would finance this, so the government came in and helped with loans and an investment in stock of General Motors and Chrysler."

The auto industry and manufacturing in general are the main themes of the presidential race in the key swing state of Ohio. With Obama lauding government intervention in the auto industry, and Romney criticizing it, “it really is a microcosm of the national campaign,” Stephen Brooks, a political science professor at the University of Akron, told Bloomberg.


© 2024 Newsmax. All rights reserved.


US
President Barack Obama has touted his auto bailout as a resounding success, but he and other Democrats are running from the term bailout, describing it as an auto rescue instead.
auto,bailout,obama,election
239
2012-33-19
Friday, 19 October 2012 02:33 PM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
TOP

Interest-Based Advertising | Do not sell or share my personal information

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
America's News Page
© Newsmax Media, Inc.
All Rights Reserved
Download the NewsmaxTV App
Get the NewsmaxTV App for iOS Get the NewsmaxTV App for Android Scan QR code to get the NewsmaxTV App
NEWSMAX.COM
America's News Page
© Newsmax Media, Inc.
All Rights Reserved