Obama ad: Romney "dishonest" on auto bailout

Updated 4:29 p.m. Eastern Time

The Obama campaign on Monday afternoon released an ad rebutting Mitt Romney's claim - which he has stated both on the stump and in advertising - that because of the Obama administration, production of Jeeps is moving to China.

The new Obama ad, "Collapse," will air in the crucial swing state of Ohio, where one in eight jobs are tied to the auto industry. It opens by spotlighting a Romney op-ed headlined "Let Detroit Go Bankrupt" to claim that Romney "turned his back" on the auto industry at a crucial time.

This is not entirely fair: Romney did not actually use that phrase - it was the headline placed on an op-ed he wrote - and Mr. Obama's administration took GM and Chrysler through a "managed bankruptcy," which is what Romney advocated in the column. The difference is that while Mr. Obama used federal funds to help the industry, Romney advocated providing federal loan guarantees to banks that loaned Detroit the necessary money. Administration officials say those loans would never have come due to the financial crisis, and that Romney's position would have thus meant the end of the industry.

The narrator in the Obama ad goes on to say that "now, after Romney's false claim of Jeep outsourcing to China, Chrysler itself has refuted Romney's lie."

On Thursday, Romney said, "I saw a story today that one of the great manufacturers in this state Jeep -- now owned by the Italians -- is thinking of moving all production to China. I will fight for every good job in America. I'm going to fight to make sure trade is fair, and if it's fair America will win." 

Chrysler called that claim "a leap that would be difficult even for professional circus acrobats."

"Jeep has no intention of shifting production of its Jeep models out of North America to China," said a spokesman. "It's simply reviewing the opportunities to return Jeep output to China for the world's largest auto market. U.S. Jeep assembly lines will continue to stay in operation."

Yet the Romney campaign is continuing to suggest Jeep jobs moving overseas: In a new campaign ad, a narrator says, "Obama took GM and Chrysler into bankruptcy and sold Chrysler to Italians who are going to build Jeeps in China." This is technically true, but it's misleading: Chrysler is considering building Jeeps in China for the Chinese market, but it has not indicated it will move American Jeep jobs overseas. The company has a Jeep production facility in Toledo, Ohio. 

The Obama ad goes on to say the truth is that Jeep is adding Ohio jobs before deeming Romney "wrong" on the auto bailout and "dishonest now." It shows Romney saying "Let Detroit Go Bankrupt" on CBS News in 2011 in the context of a discussion of the controversial op-ed mentioned above.

UPDATE: Amanda Henneberg of the Romney campaign emailed a response to the ad.

"It appears the Obama campaign is less concerned with engaging in a meaningful conversation about President Obama's failed policies and more concerned with arguing against facts about their record they dislike," she said. "The American people will see their desperate arguments for what they are."

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[Ehhh_Hemm]

So much for this. Jan 14, 2013 - Jeep announces move to China.

[GOP-R--Con-Men]

President Obama wanted to update America's power grid (in part by burying power lines) and transportation systems including from New York to New Jersey but congressional republicans and Chris Christie blocked him on both counts. The irony of it all, further proof and reason not to vote for republicans.

[Frosty1962]

@ GOP-R-CON-MEN
Yeah that's it, What about the incumbent who refuses to allow off shore drilling? That way we can rely on his muslims brothers to keep us going.

[tryhonesty]

RepubliCON FlipFlop Ruinme telling lie after lie. Fellow RepubliCONs got it right calling Ruinme Mr. Etch-a-Sketch, Total NO CORE suit. We the people will put an end to Ruinme/Lyan on election day next week. Obama/Biden 2012 FORWARD!

[mikesfilms]

2-FACE:

LIE, Behind close doors: 47% pay no taxes and live off the Govt. Seniors, Retired, Elderly on assisted care, unemployed, students, low-wage earners including the Military, are you a leach? He doesn't expect your vote since he plans to SHAFT you.

LIE, I'll be good for everybody. "Liberal" governor to Rightie in the primaries to Centrist as candidate to Rightie reborn to Centrist in the debates to Moderate till ELECTION DAY to whoknowswhat. VOTE FOR ME SUCKERS.

LIE, nothing sinister about my tax reports and offshore accounts. Read "Mitt Romney's Bailout Bonanza" by Greg Palast investigator of corporate fraud and racketeering and journalist. His 2009 tax report will show how much he profited from the auto bailout sending autopart factories and jobs to China, paying little or no taxes.

From a Tax Justice Network study: wealthy individuals have up to $32 trillion of hidden money around the world in what are known as offshore accounts or tax havens, real estate and yachts not included. If he wants to buy the WH, Romney must show his offshore accounts and tax reports to see is he's fit for any honest job.

[eroteme2]

Dishonest? A not-so-nice charge. But it is a bit nicer than being called a murderer and a felon.

[mr--mustant]

OBAMA IS A LIER AND A MURDERER

[abbe91]

Don't compare Romney to Bush (4000 of our soldiers, 100 000 Iraqi civilians killed). AFAIK, Romney didn't kill anybody ... yet.

[hillzhaveays]

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obwan222 says:
"Romney wanted a managed bankruptcy..."

The banks were bust. You can't have a "managed bankruptcy" without a lender or buyer and there were none available in the private market.

Instead the auto companies would have been liquidated and a million more people would be out of work as the auto supply chain collapsed.

Then you would blame the President for that.
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Thank you for presenting a great example of a lib partisan hack who can't do his own research and has to regurgitate lib blog drivel.

Obama's "car czar" Rattner is quoted as saying they never even approached the banks on getting $60 Billion in loans for the bailout with government backing, instead they just took taxpayer money straight to Detroit. They could have had a legitimate bankruptcy without the cost to taxpayers otherwise.

You regurgitate the BS argument laid out by the lib camp that "banks were bust", asserting there was no money. However, $75.1 billion in 2008-2009 was doled out in government backed student loans, a 25% increase over the previous year, then increased again for 2009-2010. So, no, the "banks were bust" argument doesn't wash.

[karlejohn]

Mr Romney was asked by a student, "Where can I go to get money for college?" Mr Romney's reply, "Go to your parents." My point, Mr Romney wantede GM to go broke. Where would GM get money? No money was available in the public service! The only money available was the, "FERDERAL GOVERNMENT" shame on you Mr Romney for being caught in another LIE!

[wfw3536]

Romney wanted a managed bankruptcy that many airlines have used successfully, one example being Delta. First, Romney did not write the headline, and in his article he states clearly that through a managed bankruptcy the government would still support it so the auto industry would remain strong in our country. What we never hear is Obama want the government to do this bankruptcy so he could give a third of GM to the unions along with around 50 billion, 25 to 30 billion which tax payers will never see. And let's not forget GM shareholders who because the government intervined saw only pennies on their investment. The other thing that you never see in the national media is there were 20 some thousand non union workers who worked for GM and other companies associated with GM, these folks lost all of their pension because of Obama. Yet, Obama made sure he took care of his union folks. Oh the hypocrisy of Obama.

[Bena1]

Blah blah blah. Ohio isn't stupid, they know what Romney meant. He knows the big 3 would not have be able to secure loans. Obama saved the industry, and even then Romney still made a profit. If you think Romney saved the auto industry call up Chrysler and ask them directly.

[PourpaixPourpaix]

You ever think about writing for Grimm's fairy tales? Well, Romney secretly wanted to do the right thing, even though he said we should do the wrong thing. And Obama secretly wanted to do what Detroit management already did under the Bush administration, but Obama wanted to do more but didn't because it was the right thing. But he's a dirty guy because he secretly wanted something different which he didn't do. And while we lambaste Obama for not quickly bringing back all the jobs lost because of Bush, we also criticize Obama for spending money that saved jobs in the bankrupt auto industry. And most of all, if some workers lost their pension because their white-collar decisions bankrupted the company, it's all Obama's fault because he didn't fix the problem before he was President. Obviously, making a big fat gift of a stadium full of money to the morons who ran the company into the ground will surely work better, because then the executives don't have to choose between eating a low grade steak like Sirloin once a week or firing a couple gardeners on their lush, private estates.

[US-Patriot]

CBS, how about covering Obama's lies about Benghazi? Your one-sided coverage is worthless.

[1ATL1]

If even Fox stop covering it why should CBS bring up old news. Congress is investigating what more do you want? What about fast and furious, wasn't that the last omg, smoking gun? What not as good of a story once we find out the truth? The murderer pleading guilty, that not news worthy. Oh I see now that it all started in 2006, it's hard to blame the president, so it's no longer news worthy.

[eroteme2]

CBS et al will not be interested because it may have a negative influence for Obama's reelection. After the electtion it will be old news, successfully buried. Congress may still investigate but for nothing. Our mainstream media is not interested in this case. Those who pursues the matter will undoubtedly be called racists or more kindly called anti-Obamaists, anti-Democrats. Hateful Republicans. Can't complain, this is the way it is.

[hillzhaveays]

Repubs_R_Fiscal_Liberals replies:
Furthermore, if there were any major issues with his tax returns, you can bet the IRS would have already taken action, either on their own

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Yes, just like the police catch all criminals!
_______________________________________
They tend to catch the high profile ones, raffle.

[Repubs_R_Fiscal_Liberals]

The problem has more to do with great accountants, Hillz. I don't have GE's amazing accounting department, but my guy is damn sharp. Personally, I use 1031 exchanges, perfectly legal, to increase my bottom line by avoiding capital gains by not liquidating unless I need the cash.

Regardless, I agree that they would tend to focus on high earners. I just find the argument is that they would have caught him *no matter what*, if he had done anything illegal, to be weak.

[IPonUall2]

They didn't catch Darrell Issa.