Ryan hits Obama on auto bailout
October 28th, 2012
09:22 AM ET
7 years ago

Ryan hits Obama on auto bailout

Sabina, Ohio (CNN) – Vice presidential nominee Paul Ryan lent support to running mate Mitt Romney in Ohio on Saturday by going after President Barack Obama for "picking winners and losers" in the federal auto bailout.

The Republican presidential ticket has struggled to overcome the Democratic president's lead in the crucial battleground state, in part because of Romney's opposition in 2008 to a federal bailout of the U.S. auto industry.

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On Saturday evening, Ryan unveiled another line of attack after meeting with nonunion, salaried employees who faced significant cuts to their pensions when government intervened in early 2009.
When he appeared at his fifth and final rally of the day, Ryan talked about the 10 or so people he met with who worked at the local Delphi Automotive plant. The same company, which supplies parts to General Motors, also operated a plant in Oak Creek, Wisconsin, part of the congressional district Ryan has represented for 14 years.

"You see the president likes to go around Ohio talking about how he saved the auto industry, how the auto bailout was such a success. Tell you what: He hasn't talked to these Oak Creek salaried employees, he hasn't talked to these Ohio Delphi salaried employees, because this is one of those examples of the government picking winners and losers," Ryan said at a high school in Sabina, located between Columbus and Dayton.

Ryan's comments came just days after Sen. Rob Portman of Ohio, a top campaign surrogate, ">defended Romney's opposition to the bailout in the state's Rust Belt.

At the Delphi employee roundtable, Ryan was joined by Ohio Rep. Michael Turner and Tom Rose, chairman of the Delphi Salaried Retirees Association fund-raising committee, which is fighting to restore full pensions earned or entitled to salaried employees who did not receive the same benefits as union employees did in the federal bailout.

"Mitt Romney and I have a different idea of how government should operate. We don't think we should be sitting in Washington picking winners and losers. We don't think we should be deciding who gets what, where, when, and how and who doesn't," said Ryan. "There's nothing wrong with asking for honesty and decency and fairness and transparency and equal treatment for all."

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Filed under: Mitt Romney • Ohio • Paul Ryan
soundoff (66 Responses)
  1. ThinkAgain: All of the GOP's policies are PROVEN FAILURES

    Here's Munster again yammering on about how the government shouldn't be investing in companies, like the $90 billion invested in green energy. He and Mittens both lie about how "half" of those companies (like their favorite, Solyndra) went bankrupt. Here are the FACTS (google it if you don't believe me):

    Government investment:
    63 companies, 5 went bankrupt
    8% filed for bankruptcy (not half like Mittens claims)

    Compare that to Romney's Bain Record:
    77 businesses, 22% filed for bankruptcy or closed within 8 years
    Bain lost all money invested in 8% of them

    Here's Bain's "Solyndra," a company called Lifelike that made twin dolls using a photo of your child (I know ... creepy):

    In 1996, Bain invested $2 million, including a personal loan by Mittens. Shortly before it went bankrupt, Bain sold its stake in the company for $15,000. That's a 99% loss on investment.

    So I'll give Mittens this: when it comes to being better at something, he's better at picking losers than the government.

    Obama/Biden 2012 = The only sane choice

    October 28, 2012 12:29 pm at 12:29 pm |
  2. An objective observer

    Do you trust Ryan/Romney?????? Vote for them and you go back to the BUSH era.. One does not need to be rocket scientist to understand this! Romney is buying the W/H Just imagine how many favours he will have to pay back.... if he wins... Obama/Biden 2012

    October 28, 2012 12:30 pm at 12:30 pm |
  3. ThinkAgain: All of the GOP's policies are PROVEN FAILURES

    Bain Capital and other private equity firms wouldn't touch the auto bailout, because they considered it a bad bet (translation: They don't believe in American companies and workers). Banks wouldn't touch it, either, and most folks recall how tight credit was at that time.

    So President Obama stood by his word of believing in our country and our auto industry and provided federal taxpayer dollars to rescue the American auto industry.

    The result? The auto industry and the 1+ million supply chain jobs were saved, GM is on top and taxpayers have been repaid almost completely, with interest.

    Spin it all you want, Munster; Obama/Biden 2012 remains the only sane choice.

    October 28, 2012 12:32 pm at 12:32 pm |
  4. Seve

    Have any of you read the details of Obamacare? Nobody in their right mind could endorse this plan if they really read it. There are some good things, but overall it will be a drain on our economy, severely undermine our healthcare system, and discourage future physicians in this country all for the sake of 10M people that need insurance and actually want it. Don't get me wrong, I want everybody covered, but there are better ways than destroying the absolute best healthcare system in the world. Obama sounds compassionate and it works on uninformed voters, but it will be a miserable next 4 years if he is elected.

    October 28, 2012 12:38 pm at 12:38 pm |
  5. CarolO

    Romney toots how great of a Governor he was. He was so great that his own State is 15 points up for Obama. Romney cut education, laid off cops, firemen and teachers. Added fees to everything and left hundreds without an insurance coverage. The unemployment rate when he left was the same as Louisana after Katrina hit.

    Another thing Romney toots his horn about is "rescueing the Olympics." When he took it over, it was $379 million in debt but what does not tell you is that he was granted from $400-600 million from the Federal Government. THAT'S how he brought the Olympics out of the red ink.

    October 28, 2012 12:43 pm at 12:43 pm |
  6. Ken

    Seve – you have obviously never traveled anywhere else in the world if you say that this is "the absolute best healthcare system in the world"

    That' akin to saying that the American system of education is the "absolute best educational system in the world".

    October 28, 2012 12:45 pm at 12:45 pm |
  7. Lweendo

    Obama's intentions for bailing out the auto industry were focused on the people or employees who were gonig to loose their livelihood. It was more of a humanitarian duty than business oriented. A business man only sees profits and loses and makes a choice based on figures like a machine(pc), not human based decision which a leader should possess.

    A Human leader is a better leader, not a robot.

    October 28, 2012 12:48 pm at 12:48 pm |

    Wow, Ryan sat down and talked to 10 current employees who did NOT know if they would even have a CHANCE to renegotiiate their pensions BEFORE the bailout. Now, after the bailout not only do they have a CHANCE to negotiate their pensions, but they STILL have their jobs. And I bet if they are non-union, they are management whom would have probably received a nice severence package if the auto industry would have folded while the average worker would have only gotten a pink slip. HOW REPUBLICAN to say the auto bailout was wrong and it wouldn't work AFTER if DID work. DELUSIONAL I tell ya.

    October 28, 2012 01:26 pm at 1:26 pm |
  9. Claudia, Houston, Tx

    Have you read any details of the "Ryan Budget Plan" which Romney or Ryan won't talk about until after the election. Nobody in their right mind could endorse them without any details, it would be like buying a new car without knowing the cost until it's parked in your driveway.

    October 28, 2012 01:32 pm at 1:32 pm |
  10. Bessy

    @ Seve
    Wake up. The US does not have the best healthcare system in the world. It has the worst and we should be appalled at what we have. Even Cuba has a better system than what we have in this country. CUBA !! You do not want everyone covered or you would see how Obamacare is far better than what we have now. Unfortunately, it does not go far enough, but, it is a start.

    October 28, 2012 01:43 pm at 1:43 pm |
  11. Gurgyl

    Just an idiot this guy.

    October 28, 2012 02:00 pm at 2:00 pm |
  12. Rick in AZ

    Ryan says "picking winners and losers". Sorta like Bush picking Haliburton and Blackwater.

    October 28, 2012 02:14 pm at 2:14 pm |
  13. Paul

    It takes Bain eight years to turn a company around before harvasting. Obama has only had four years in office and our country is noticably better off. I'll stick with President Obama. A proving leader.

    October 28, 2012 02:53 pm at 2:53 pm |
  14. ThinkAgain: All of the GOP's policies are PROVEN FAILURES

    @Seve: "Have any of you read the details of Obamacare?"

    Yes, and according to the Congressional Budget Office, repealing Obamacare (direct spending and revenue effects of H.R. 6079, the Repeal of Obamacare Act) "would cause a net increase in federal budget deficits of $109 billion over the 2013–2022 period."

    Not to mention if Obamacare is repealed, insurance companies will again be able to not insure people with pre-existing conditions or drop people's insurance if they get sick. Obamacare has also already started helping people by slowing the increase in premiums to 2%-4%, compared to insurance premiums rising at double the inflation rate in 2010.

    I predict that when President Obama is reelected and Obamacare goes into full effect, the next 4 years will be a very positive time of economic growth and more and more people will be thankful President Obama finally got meaningful health care reformed passed.

    Obama/Biden 2012 = The only sane choice

    October 28, 2012 02:56 pm at 2:56 pm |
  15. ThinkAgain: All of the GOP's policies are PROVEN FAILURES

    Imagine the earful Lyin' Ryan's priest has to put up with at confession!

    October 28, 2012 02:57 pm at 2:57 pm |
  16. Dee

    Ryan, Romney and the GOP are distorting the fact or telling lies to discredit the President. Romney wants the job so bad he will say anything to the audience that he is addressing and noone knows what he stands for.

    People in this country deserve better and the election should not be bought by his rich friends but God has a plan he looks out for all of us and not just the 40%. Everytime there is so much turmoil he steps in and wakes up this nation to bring them back to their senses. In the last leg of this election he steps in with a hurricane that disrupts and gets our attention, he is tired of the fighting , name calling and mistreating of each other.

    America this is a wake-up call do we want to go back to the Bush years or move forward where everybody is treated the same and are rewarded the same benefits in this country. There are always going to be naysayers I guess this storm was caused by the President as everthing else.

    October 28, 2012 03:43 pm at 3:43 pm |
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