From Forbes:
President Obama has been touting his bailout of General Motors as a reason for people in Michigan and Ohio to vote for him. However, there is one small problem with his argument. Regardless of the past, GM’s only hope for long-term survival nowis if Mitt Romney wins on November 6.
If Obama is reelected, GM is doomed to a second bankruptcy (or to another taxpayer bailout). This is because Obama is committed to doubling down on the two policies that drove GM bankrupt in the first place: a weak, unstable dollar, and unrealistic corporate average fuel economy (CAFE) requirements. In contrast, Romney has promised to replace Fed Chairman Ben Bernanke, and he has expressed skepticism regarding Obama’s insane 54.5 miles per gallon (MPG) CAFE target.
Photo courtesy Austen Hufford, flickr
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