SHOT: Ohio Gov. John Kasich admits the auto rescue, which was championed by former Gov. Ted Strickland, worked.
CHASER: Ohio U.S. Sen. Rob Portman called the auto rescue a ‘lousy deal,’ despite the fact it saved 160,000 Ohio jobs.
Kasich Admitted the Auto Rescue Worked. Last week on Morning Joe, Kasich was asked: “Ohio depends a lot on auto jobs. Auto jobs have come back very strong. How much credit do you give President Obama for that?”
Kasich responded: “I mean they did a bailout, and that’s fine and they’re there and I’m glad they’re there. So am I running around pinning a medal on the president? I haven’t done that but I’ll tell you what else I haven’t done. I ran for re-election and didn’t spend my time beating him over the head. […] Look, I’m not an Obama hater here. I don’t agree with him. OK, so he did well on that but you know what he didn’t do well on, growing this economy, Steve.”
Portman Called The Plan To Rescue General Motors A “Lousy Deal.” Portman issued a statement on the General Motors Bankruptcy Plan: “The General Motors bankruptcy plan Washington announced today is a lousy deal for Ohio. Taxpayers, including hard working Ohioans, are investing $50 billion in a GM plan that we now find includes shutting down plants in Mansfield, Parma, and Columbus, Ohio. The reason for this unprecedented taxpayer bailout and government intervention was to preserve jobs. Instead, for our $50 Billion taxpayer investment, thousands more workers will see their jobs disappear. Ohio deserves better than this.” [Rob Portman For Senate, via Internet Archive, Accessed 3/9/12]
October 2008 Cleveland Plain Dealer Headline: “Strickland Urges Bailout Money to Auto Industry.” “Gov. Ted Strickland and the governors of five other states are encouraging federal officials to use some of the $700 billion federal banking bailout package to prop up the auto industry. ‘The auto industry; their network of suppliers, vendors, dealers and other business; and the communities that rely on those businesses face unimaginable challenges – challenges we urge you to help address,’ Strickland and the governors of Michigan, Kentucky, Delaware, New York and South Dakota wrote in a letter to U.S. Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke.” [Cleveland Plain Dealer, 10/31/08]
Study Found Auto Rescue Saved 160,000 Ohio Jobs In 2009 Alone. “I took it personally when some people were willing to let Detroit go bankrupt rather than fight for hundreds of thousands of middle-class jobs. In Ohio alone, more than 800,000 jobs are related to the auto industry. More than 120,000 Ohioans are directly employed by automakers, auto dealers, and supply-chain parts manufacturers. The Center for Automotive Research found that Ohio would have lost more than 160,000 auto jobs in 2009 had Senator Brown, President Obama, and others not acted. The auto rescue was about more than saving the Big Three. Ohio is home to more parts suppliers, industries, and technology companies that support America’s auto manufacturing base than practically any other state. Investing in the auto industry meant investing in Ohioans up and down the state, in all walks of life.” [Toledo Blade, Ken Lortz Op-Ed, 10/18/12]