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Romney only gets credit for wanting to "let Detroit go bankrupt"

Romney warned, "If General Motors, Ford and Chrysler get the bailout that their chief executives asked for yesterday, you can kiss the American automotive industry goodbye. It won't go overnight, but its demise will be virtually guaranteed."

Just three and a half years ago, when the American auto industry was on the very brink of collapse, Mitt Romney had a suggestion: "Let Detroit go bankrupt."

Romney felt so strongly about his idea that he took to the editorial pages of the New York Times, where in plain English he spelled out his opposition to a government rescue package for the Big Three automakers. He argued that Detroit should seek private financing instead, ignoring the fact that credit markets were frozen solid and that even Romney's old firm, Bain Capital, declined to help an industry in crisis. Romney warned, "If General Motors, Ford and Chrysler get the bailout that their chief executives asked for yesterday, you can kiss the American automotive industry goodbye. It won't go overnight, but its demise will be virtually guaranteed."

Fortunately, our President disagreed, and instead of putting his finger to the political winds, President Obama made the tough, politically unpopular decision to extend a hand to Detroit in its moment of need. It was a decision that saved more than 1 million good-paying jobs in Detroit and across the country. Today, the American auto industry is back on its feet, and it's stronger than ever. Thanks to a tough call from a President who, in his own words, "made a bet on the American worker," Detroit is putting out cars of the future that meet tough new fuel standards, hiring employees, re-opening plants that closed at the height of the crisis, and investing in its American facilities and workers. Just this week, we learned that General Motors is No. 5 on the this year's Fortune 500 list—something that was inconceivable three years ago.

But now that he's been proved so throughly wrong, Romney's trying to rewrite history. He's now making the laughable assertion that he deserves "a lot of the credit." But we know better, and the people who lived through the worst days the American auto industry has ever seen know better—just ask them. Here's what the Detroit Free Press has to say about Romney's gall:

"Is the presumptive GOP nominee delusional? Or is he simply too dishonest to acknowledge that Detroit's survival was assured only after the Obama administration combined the massive injection of federal aid Romney opposed and the managed bankruptcy he favored? …

"Romney won't regain Michigan's trust until he acknowledges the critical role that government played in sustaining the state's auto industry—and abandons the fiction that Detroit's recovery was his idea."

Don't let Romney rewrite history. Spread the word that Romney wanted to "let Detroit go bankrupt"—and doesn't deserve an ounce of credit for a resurgent Detroit by sharing this video.