Aug. 9, 2012, Fairfax, VA— Today on the campaign trail Barack Obama said, "I believe in this American industry, and now the American auto industry has come roaring back. Now I want to do the same thing with manufacturing jobs, not just in the auto industry, but in every industry [emphasis added]." Americans for Limited Government President Bill Wilson responded:
"Obama has declared war on the private ownership and financing of American industry. Obama handed over much of Chrysler and GM to the autoworkers union while destroying bondholders' stake in the companies.
"That is hardly a model for job growth in America, and reeks of Soviet-style industrial planning. Both of these companies were effectively seized by the U.S. Treasury in 2009 while the normal bankruptcy process was disrupted to benefit Obama political cronies.
"Obama's revelation that he wants to this with every industry should send a chill down the spines of every person looking for a job in America. Does he want to nationalize every industry?"
Americans for Limited Government is a non-partisan, nationwide network committed to advancing free market reforms, private property rights and core American liberties. For more information on ALG please call us at 703-383-0880 or visit our website at www.GetLiberty.org.