Marsha Blackburn On American Motors

AMC was known for having ugly and unsafe cars. Because of their major stockholder being assassinated and financial problems,AMC went bought out by Chrysler. AMC no longer exists. However, that hasn't stopped Rep. Marsha Blackburn from accusing President Obama for being responsible for AMC jobs being outsourced to China.

CHIRS JENSING (HOST): Let me ask you about some of the things going on on the campaign trail, and there’s a controversy about Mitt Romney telling voters that jeep is going to move production to China. According to the company that’s entirely false. Is he lying about that?

BLACKBURN: Oh, well, I don’t know. I haven’t talked with with the campaign staff about that. I will say this. For workers in the auto industry, across the board, whether it is GM, whether it’s Nissan, whether it’s American Motors, individuals are very concerned about the impact of regulation that the EPA and OSHA and other federal agencies are heaping on our manufacturers.

Everyone misspeaks from time to time. I don't expect Rep. Blackburn to be perfect. What bothers me is that Miss Blackburn seems to have no interest in educating herself on if Mitt Romney's accusation of auto industry jobs moving to China. Blackburn seems more interested in talking points.

Romney has been using constant attacks against China. I don't believe for a minute that Romney is going to stop companies like Wal-Mart from outsourcing jobs to China. Romney has focus group his China attacks and wants to play on Asian xenophobia. Romney doesn't have a policy to deal with China stealing patents or price-fixing the yen. Romney has talking points.

It's A Shame About GM

A sign that the auto industry crisis has taken a turn for the worst. Evan Dando is suing General Motors.

The Auto Industry Financing and Restructuring Act

The Auto Industry Financing and Restructuring Act passed in the House by a vote of a vote of 237-170. House Speaker Nancy Pelosi outlined the bill's goal.

On Jump Starting the Auto Industry:

“Today we are considering legislation not as life-support to sustain a dying industry, but a jump start for an industry that is essential to our country’s economic health. One in 10 American jobs is linked to the domestic auto industry, and it is a key pillar in an American manufacturing sector critical to our national security and economic competitiveness for decades to come.”

On Tough Love for the Auto Industry:

“This legislation is built on four principles and actually comes down to a question of tough love. Tough love for an industry whose success is essential to our economic success, whose jobs are important to our workforce, whose innovation is essential to our progress, and whose manufacturing, technological, and industrial base is also essential to our national security.”

On Taxpayer Protections in the Legislation:

“When we ask taxpayers to put up money to fund this restructuring, we must have accountability to the American people. The President will designate a ‘car czar’ to oversee the industry’s restructuring. The taxpayers get a return on their investment or are first in line to be repaid.”

On Auto Executives:

“We will soon see in a matter of weeks if the executive suites in Detroit are willing to make a choice. Certainly there needs to be retooling of the plants and renegotiating of the contracts. There may have to be reconsideration of the management of these companies if they cannot live up to the standard of this legislation and prove themselves worthy of the taxpayers’ dollar that is being placed there.”