President Barack Obama delivers a speech at the White House.
(Photo : Reuters)
Many topics and concerns will play a factor in to who wins the Presidential election this coming November, but the candidate who can provide the most for the U.S. auto industry may just wind up being the victor when all is said and done.
President Barack Obama has been in office for almost four years, and during that time he has done more than necessary to help the auto industry out. People who work at American car companies like General Motors and Chrysler owe their jobs to Obama after he bailed out both companies from a financial meltdown. Obama took money from the Wall Street bailout fund and used it to help both companies, believing it was important for the nation that both companies remain influential in the auto world. In doing so, Obama preserved hundreds of thousands of jobs during a time period when jobs were not easy to come by.
He has also enforced sanctions on Chinese tires that received unsuitable export subsides. The move has been considered controversial, but so far it has helped save thousands of U.S. tire-building jobs around the country. His next step of action is to challenge illegally-subsidized Chinese auto parts to also help sustain American auto companies and their workers.
Obama's competition for office, GOP presidential nominee Mitt Romney, has a different outlook on the auto industry however.
Romney is the son of a former American Motors CEO, and seems to love driving American cars. So much so, he drives "a couple of Cadillac's" according to his wife Ann Romney. He has mentioned in interviews that he has plans to install an elevator in his beach mansion just to be used for all of his cars. Despite being a multimillionaire who can afford such luxuries, Romney insisted on driving his family to a vacation spot in Ontario in 1983 with their family dog in a carrier attached to the roof of the car for the entire 12 hour trip.
History will show that Romney has not supported Obama's decisions when it comes to auto companies. When asked about the bailout money General Motors received, Romney responded by saying we should let Detroit go bankrupt. He is also fine with American companies making cars and parts overseas to rededuce production costs. Meanwhile Obama has fought hard to make sure U.S. cars are made in America by American workers.
Time will show who wins, who loses, and why, but don't be surprised if auto beliefs and practices play a bigger role than expected.