Let Them Go Bankrupt!

Good news for America. Bad news for Mitt Romney.

Auto sales have risen nearly 15 percent in 2012 and are now at their highest level since before the 2008 financial crisis.

A total of 1.19 million automobiles were sold in September, a 13 percent increase from a year ago and the highest point in four years, the New York Times reports. Sales across the industry are up 14.5 percent this year compared to the first nine months of 2011, bolstered by strong domestic performances from foreign manufacturers like Toyota and Honda. General Motors sales were up 1.5 percent, and the company posted its best September sales number since 2008. Chrysler sales were up 14.5 percent for the month, making September the company’s 30th consecutive month of year-over-year sales gains.

If President Obama took Mitt Romney’s advice, which was to let Detroit go bankrupt, I highly doubt he would be poised to win big in November as he is now.

Allowing the American automobile industry to go bankrupt would have erased Michigan off the map and turned it into a demilitarized zone while pushing outlying states out of his reach and into the economic gutter. Unemployment would be astronomical.

If Mitt Romney were president in 2009, he would have destroyed the economy by allowing vulture capitalists like himself to swoop in and buy General Motors at a bargain-bin price.

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  • http://twitter.com/scifritz scifritz

    I look at this a few different ways. One it is great, during “This Economy” that industry is stabilizing and not bleeding jobs allowing many to continue earning money to spend. On the other hand, that means people are driving cars and/or buying more cars…

    • JMAshby

      In many cases, it’s people replacing old cars with newer, more efficient cars.

      Up until recently, they were unable to afford or afraid to buy a new(er) one.

  • bphoon

    So, as a result, according to this morning’s ABC/Marist poll, Obama’s up by 8 points in Ohio. Hell, he’s even gone up by 2 in North Carolina, the only swing state where Romney’s led since the conventions. Couple this with this month’s numbers on housing prices and Obama can point to objective, quantifiable gains in This Economy&reg.

    I wonder how Romneybot 5.0 will process that.

  • D_C_Wilson

    “Allowing the American automobile industry to go bankrupt would have erased Michigan off the map and turned it into a demilitarized zone while pushing outlying states out of his reach and into the economic gutter.”

    Yeah, but the trees would still be just the right height.

    The big question, though: Will Romneybot try to take credit for this rebound during the debate.