Romney thinks he has a winning strategy, but he's wrong.
href="http://www.detnews.com/apps/pbcs.dll/article?AID=/20071013/UPDATE/710130417/1020/NATION">Presidential
hopeful Romney vows to help pull Michigan out of economic slump
Gordon Trowbridge / Detroit News Washington Bureau
Saturday, October 13, 2007
GRAND RAPIDS -- Republican presidential hopeful Mitt
Romney promised on Saturday to help raise his native state out of its
economic crisis and defended himself against accusations from John
McCain that he failed in the past to support Republican policies and
candidates.
Speaking to reporters and then to about 150 supporters and potential
supporters in a hotel ballroom, Romney promised "specific policies to
help Michigan," including federal support for research into automotive
and fuel technologies. Responding to a question during a 40-minute town
hall-style event, Romney also said any changes to federal auto
fuel-economy standards should be made with the input of the auto
industry and should not give an edge to foreign automakers over
domestic companies...
The single best thing he could do for Michigan, which would not have
the potential to give an edge to overseas automakers, would be to
establish a single-payer, universal-coverage health care system.
The next best thing -- something not to do -- would be to not bail out the auto industry as has been done so many times in the past. The auto industry needs the same treatment auto workers have had since the Reagan era: you're on your own, if you can't figure this out then you need to find new work.
Absolutely. A one-time bailout may or may not be appropriate, but if it is to be appropriate, it has to lead to something sustainable. The old Chrysler bailout is a good example.
The lack of tough emission standards is something Detroit has wanted for decades, and they got it, but it has not served them well over the long run.