Remember When Republicans Wanted the Auto Industry to Fail?

Posted on: December 6th, 2011 by ecthompson md No Comments

Just a couple weeks ago, we got the new auto sales reports for November.

From the Wall Street Journal:

U.S. car makers reported a surprisingly strong month of sales on Thursday, with trucks boosting General Motors and Chrysler enjoying its best November since 2007.

Ford Motor Co. F -0.54% , Toyota Motor Corp. TM -0.40% and Nissan Motors NSANY -1.31% also fared well, while Honda Motor Co. HMC +0.09% took another hit.

Overall, the industry reported a SAAR (seasonally adjusted annual rate of sales) of 13.6 million units, according to Autodata, up from 12.28 million in November 2010. Total deliveries rose 13.9% from a year earlier.

GM GM -0.63% , still the biggest of the group in the U.S., said it sold 180,402 cars and trucks, paced by a 34% increase in sales of the Chevy Silverado and a 22% rise in sales of the GMC Sierra.

Back in November of 2008, former Governor Mitt Romney wrote an op-ed in the New York Times titled "Let Detroit Go Bankrupt." He argued that "in a managed bankruptcy, the federal government would propel newly competitive and viable automakers, rather than seal their fate with a bailout check." It seems that Mitt Romney, a money guru, could quite possibly have been completely wrong.

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The Republicans knew what they wanted to happen , they wanted an all out depression , they wanted no democrat in the White House for the next fifty years . I for one am glad that they didn't get what they wanted . Also remember the clunker car exchange program .

Tarp and the stimulus package created and saved NO jobs, 

I guess you're being facetious. Because the stimulus package that create or save well over 2.5 million jobs. I appreciate your comments, as usual.

sarcasm...  Salt lake just got another 55 million in stimulus money last week to rebuild the old motels in downtown into aprtaments. Now I wonder how they are going to do the construction without hiring anyone.  Same with the 50 million in stimuls money for the streetcar in another town... magicians. But lets see. My company was able to hire 15 new employees making 20 per hour and full benefits. Added onto our building. Because of the stimulus money being spent on infrastructure.... Now how about all the roads and bridges... yep orange cones everywhere. Must be the fairies and elves...

Most Republicans are always completely wrong.

This was from Marketwatch.com not WSJ.

I may be wrong but I thought that market watch was a subsidiary of the Wall Street Journal. I thought it was part of the Wall Street Journal – digital network.