OBAMA ROMNEY PRESIDENTIAL DEBATE, HEMPSTEAD NYC -17.10.12 – PART 2, AUTOMOBILES & JOBS CREATION LEVELS REVIEW

Romney Obama – Denver Part Two:

Jobs – America’s no.1 issue, after fuel consumption, an overview of automobile industry restructures and lacklustre economic management in EXTREME GFC conditions:

Crowley: Let me ask you for more immediate answer and begin with Mr. Romney just quickly what – what can you do? We’re looking at a situation where 40 percent of the unemployed have been unemployed for six months or more. They don’t have the two years that Jeremy has (a student in studies).

What about those long term unemployed who need a job right now?

Romney: Well what you’re seeing in this country is 23 million people struggling to find a job. A lot of them, have been out of work for a long, long, long time. The president’s policies haven’t put Americans back to work. We have fewer people working today than we had when the president took office.

If theunemployment rate was 7.8 percent when he took office, today it would be 10.7 percent. We have not made the progress we need to make to put people back to work. That’s why I put out a five-point plan that gets America 12 million new jobs in four years and rising take-home pay. It’s going to help.

And one thing that the president said, which I want to make sure that we understand, he said that I said we should take Detroit bankrupt. And that’s right. My plan was to have the company go through bankruptcy like 7-Eleven did and Macy’s and Condell (ph) Airlines and come out stronger.

And I know he keeps saying, you want to take Detroit bankrupt. Well, the president took Detroit bankrupt. You took General Motors bankrupt. You took Chrysler bankrupt. So when you say that I wanted to take the auto industry bankrupt, you actually did.

And I think it’s important to know that that was a process that was necessary to get those companies back on their feet, so they could start hiring more people. That was precisely what I recommended and ultimately what happened.

Candy Crowley: Let me give the president a chance.

Go ahead. OBAMA: Candy, what Governor Romney said just isn’t true. He wanted to take them into bankruptcy without providing them any way to stay open. And we would have lost a million jobs. And that — don’t take my word for it, take the executives at GM and Chrysler, some of whom are Republicans, may even support Governor Romney. But they’ll tell you his prescription wasn’t going to work.

And Governor Romney’s says he’s got a five-point plan? Governor Romney doesn’t have a five-point plan. He has a one-point plan. And that plan is to make sure that folks at the top play by a different set of rules. That’s been his philosophy in the private sector, that’s been his philosophy as governor, that’s been his philosophy as a presidential candidate.

You can make a lot of money and pay lower tax rates than somebody who makes a lot less. You can ship jobs overseas and get tax breaks for it. You can invest in a company, bankrupt it, lay off the workers, strip away their pensions, and you still make money.

That’s exactly the philosophy that we’ve seen in place for the last decade. That’s what’s been squeezing middle class families.

And we have fought back for four years to get out of that mess. The last thing we need to do is to go back to the very same policies that got us there.

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They were GFC years. Damage control was managing some of it prior before the big waves of the GFC hit hard. It was a managed process. Between a rock and a hard place. A good overview of those years.

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Source: McClatchy Online.

~Posted by Horiwoodblog, Aotearoa New Zealand, Polynesia Asia-Pacific. 17.10.12~