The choice between two philosophies in 2012
Wednesday, February 1, 2012 at 03:15PM Obama is proposing that government intervene in the housing sector and force banks to renegotiate loans, whereas Mitt Romney has proposed allowing the market to work -- removing regulations so that jobs are created and economic growth resolves the housing problem.
Obama crows about bailing out automakers, as if regular bankruptcy wouldn't have worked. Obama intervened in the auto industry and ensured unions did better than they would have done, while forcing other investors to lose more than they would have lost. Romney was against the bailout. Taxpayers are still on the hook for billions due to the bailout, but the unions did alright.
GM is still not out of danger and will likely be in the same condition in 2014 because they haven't really resolved their major problems -- the bailout was a temporary, political fix. Obama will campaign on saving GM and turning the company around. Only after the 2012 elections will we see the truth regarding GM.
This is our choice in 2012 -- a return to free market principles so that we can gradually recover from previous government interventions, or we continue with government interventions in the economy, suffering unintended consequences, then reaching the point of pay-back where short-term, political fixes no longer work and collapse is the outcome.
2012 election, Obama, Romney, auto bailout, unions 