Presidential town hall debate excerpts – President Barack Obama on Romney’s opposition to the auto bailout

Edited by Jenny Jiang

Excerpts from the presidential town hall debate at Hofstra University in Hempstead, New York on Oct. 16, 2012

Transcript of President Barack Obama’s remarks on Gov. Mitt Romney’s opposition to the auto bailout

President Barack Obama: 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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One Comment on “Presidential town hall debate excerpts – President Barack Obama on Romney’s opposition to the auto bailout

  1. Pingback: Presidential town hall debate excerpts - President Barack Obama on the U.S. consulate attack in Benghazi, Libya | What The Folly?!

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