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

Friday, 19 Oct 2012 02:33 PM

By Newsmax Wires

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink
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.


© 2014 Newsmax. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
You May Also Like

Supreme Court Halts Gay Marriage in Virginia

Wednesday, 20 Aug 2014 16:13 PM

The U.S. Supreme Court blocked the start of same-sex marriage in Virginia, putting a lower court ruling on hold while th . . .

'House of Cards' Actress to Star in Burnett's CBS Mini 'Dovekeepers'

Wednesday, 20 Aug 2014 15:48 PM

House of Cards and Manhattan alum Rachel Brosnahan is set to take flight as the star of The Dovekeepers, the four-h . . .

Rush Limbaugh: Blame Defense Dept. for Militarization of Police

Wednesday, 20 Aug 2014 15:34 PM

While press and politicos bewail the militarization of police, as seen in images from Ferguson, Missouri, showing milita . . .

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved