Thursday, November 8, 2012

The second reason to like the election results



The auto industry rescue played a positive role in the presidential outcome.

As General Motors and Chrysler thrive, perhaps the election solidified a national consensus that the bailout worked and letting GM and Chrysler die, simply due to rigid ideology, would have been a huge mistake.
Though Mitt Romney tried to obfuscate on his position regarding the 2008-09 auto bailout, perhaps tricking some voters to believe that his position was reasonable, the federal assistance to General Motors and Chrysler played a big role in the Ohio, Wisconsin and Michigan elections, according to exit polls.

As NBC News has noted, the four words that may forever become associated with the GOP nominee may be: "Let Detroit Go Bankrupt."

Romney's struggle to explain his opposition to the rescue loans – and his convoluted attempts to suggest that his preferred plan was very similar to President Obama’s actions – allowed the incumbent to hold tight to narrow leads in the blue-collar Midwest.
A strong majority of voters, 60 percent, in Ohio said they approved of bailout and, among that group, Obama buried Romney by a healthy 73 to 25 percent margin.
In Wisconsin, another battleground state that the Romney/Ryan camp targeted, 53 percent backed the bailout and, again, among that bloc of voters, Obama easily outdistanced his GOP foe, 79 to 20 percent.

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