On GM, Dems have a simple lie, we have a complicated truth
“Bin Laden is dead and GM is alive.”
The Dems have simplicity and a bumper sticker.
The truth is that Bin Laden is dead, but GM is the walking dead. That second part takes more than a few words to explain.
The editors of National Review do a very good explanation, here is part of it, The Democrats’ GM Fiction:
Admirers of the GM bailout should bear in mind that it was the Bush administration that first decided to intervene at the firm, offering a bridge loan on the condition that it draw up a deeply revised business plan. President Obama’s unique contribution was effectively to nationalize the company, seeing to it that the federal government violated normal bankruptcy processes and legal precedent to protect the defective element at the heart of GM’s troubles: the financial interests of the UAW. It did this by strong-arming GM’s bondholders into taking haircuts in order to sweeten the pot for the UAW. The Obama administration also creatively construed tax law to relieve GM of tens of billions of dollars in obligations….
Mitt Romney’s proposal for a structured bankruptcy would have necessitated considerable federal involvement, too, but with a key difference: The UAW contracts would have been renegotiated, and GM’s executive suites would have been cleaned out, placing the company on a path toward innovation and self-sufficiency rather than permanent life support. Which is to say, Obama did for GM what he is doing by un-reforming welfare: creating a dependent constituency.
The post goes on to explain why GM is the walking dead:
At their convention, Democrats swore that GM is “thriving,” but the market doesn’t think so: GM shares have lost half their value since January 2011. And while the passing of the Great Recession has meant growing sales for all automakers, GM is seriously lagging behind its competitors: Its sales are up 10 percent, a fraction of the increases at Kia, Toyota, Volkswagen, and Porsche. With its sales weak, its share price crashing, and its business model still a mess, some analysts already are predicting that GM will return to bankruptcy — but not until after the election.
There is a reason the Democrats harped on their simple little lie. It’s called Ohio.
I’m not sure how we get the truth out in a way that can compete with a lying bumper sticker.
I think the only way is for Romney to have a concise, 4-5 sentence explantion for the debates.