Soledad O'Brien Lauds 'Successful' Auto Bailout That Cost Taxpayers $14 Billion
According to CNN's Soledad O'Brien, the auto bailout led to a "pretty incredible resurgence" in the American auto industry. She grilled Congressman Mike Rogers (R-Mich.) on Thursday morning over candidate Mitt Romney's previous opposition to the bailout, saying that his opposition and the auto industry's eventual success could become a "huge, huge problem" for the candidate.
"[H]e was against the bailout, and the bailout looking back now, has been successful. Isn't that just standing on the wrong side at the end of the day?" O'Brien pressed Rogers, a special advisor to Romney's campaign. But O'Brien failed to report some of the specific consequences of the bailout, such as the cost to taxpayers. [Video below.]
The bailout's eventual cost to taxpayers was $14 billion. In addition, Rogers argued that taxpayers were quite skeptical of the Obama administration's restructuring of the companies.
"[Y]ou'll be surprised, Soledad, how many people even in Michigan were concerned at heavy hand of the government when they took over these automobile companies," Rogers expressed.