President Obama continued to hammer away at Mitt Romney at the town hall debate, after Romney said that Obama’s own auto industry bailout plan took General Motors and Chrysler into a managed bankruptcy — after Obama had attacked Romney for having said “let Detroit go bankrupt.”
“What Gov. Romney said just isn’t true. He wanted to take them into bankruptcy without providing them any way to stay open. We would have lost a million jobs,” Obama said. “Don’t take my word for it — take the executives at GM and Chrysler, some of whom are Republicans, and may even support Gov. Romney. They’ll tell, you his prescription wasn’t going to work.
“Gov. Romney says he’s got a five-point plan. Gov. Romney doesn’t have a five-point plan —h e has a one-point plan. That plan is to make sure that folks at the top play by a different set of rules. That’s been his philosophy in the private sector. That’s been his philosophy as governor,” Obama continued.
He further added direct shots at Romney’s business record at Bain Capital: “You can make a lot of money and pay lower tax rates than somebody who makes a lot less. You can ship jobs overseas and get tax breaks for it. You can invest in a company, bankrupt it, and lay off the workers, strip away their pensions, and you still make money. That’s exactly the philosophy that we’ve seen in place for the last decade. That’s what’s been squeezing middle-class families. And we have fought back for four years to get out of that mess. The last thing we need to do is to go back to the same policies that got us there.”
