Liberty Maven

For once it seems that when it comes to the auto industry bailout Ron Paul agrees with Mitt Romney, or is it the other way around? Romney said the following about the bailouts in a New York Times op-ed.

“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.”

“Without that bailout, Detroit will need to drastically restructure itself. With it, the automakers will stay the course — the suicidal course of declining market shares, insurmountable labor and retiree burdens, technology atrophy, product inferiority and never-ending job losses. Detroit needs a turnaround, not a check.”

I couldn’t agree with Romney more. Paul and Romney’s reasoning may come from different sources, but the result is the same, at least on this particular bailout. I’m happy to see Romney not taking the same line of Bush Republicans, saying that the bailout is required but must not come from the $700 billion bailout money.

Read more here.