Auto Industry Expert: “Romney’s Plan Also Would Have ‘Saved’ Detroit”

by Hans Bader on November 5, 2012 · 1 comment

Earlier, we noted that the auto bailouts temporarily look more successful right now than they likely will be in the long-run since Toyota’s bogus safety issues, and a series of massive natural disasters that temporarily devastated Japanese automakers, gave General Motors only a temporary advantage over its Japanese competitors in 2010-2012 that won’t last (the Obama administration left serious problems at GM unresolved, and failed to implement needed reforms that would have antagonized the powerful UAW Union but were essential to make GM cost-competitive in the long-run).

Writing in The Wall Street Journal, auto industry expert Edward Niedermeyer argues the Obama administration’s costly bailouts resulted in much higher costs to taxpayers, and poorer prospects for GM’s long-run survival, than if Romney’s cheaper plan for aiding the auto industry had been followed.  To Read More……