Just weeks after making a stop in Toledo, Ohio to take credit for the auto industry recovery, President Obama is looking to pile new regulations on an already struggling auto industry. Looks like just another instance of President Obama saying one thing and doing another.
RHETORIC: OBAMA BOASTS SAVING AUTO INDUSTRY
President Barack Obama is crediting his politically risky bailout of the U.S car companies with turning around an "industry on the brink." Speaking at a Ford plant that is adding 1,200 jobs and a second shift, Obama says that while others criticized his $60 billion bailout over a year ago, he chose that course because of his faith in American workers. (“Obama Boasts Saving Auto Industry 'On the Brink',” CBS News, 08/05/10)
REALITY: NEWLY FLOATED REGULATIONS WOULD ADD UP TO $3,500 TO A NEW CAR IN 2025
“Government Officials Have Estimated The Costs Of The New Standards Would Add Between $770 And $3,500 To A New Car In 2025.” (Josh Mitchell and Sharon Terlep, “Your Mileage May Vary,” The Wall Street Journal, 6/27/11)
Economy Auto Bailouts