Rick Santorum said that he wouldn’t have bailed out GM and Chrysler

Article by Christian Andrei, on February 21, 2012

Republican presidential candidate Rick Santorum told a Michigan audience that he wouldn't have bailed out General Motors Co. and Chrysler Group LLC because the automakers would have recovered without federal assistance. Last Thursday, Santorum addressed about 300 people at a Detroit Economic Club luncheon and told them that GM and Chrysler would be "alive and equally as well, or better off, than they are now.”

He also thinks that to boost competition, these markets would have responded to restructure it. Santorum’s opinion of the bailout is now being compared against the view of Gov. Mitt Romney, his chief rival in the Republican race. They are both seeking to win during the primary in Michigan on Feb. 28. Romney may have an advantage as he was born in Michigan.

Santorum cited the federal Troubled Asset Relief Program aimed at financial institutions, asserting that Romney was in support of Wall Street’s bailout but it didn’t give its support to the bailout of Detroit. Santorum clarified that what he believes is that the government shouldn’t be involved in bailouts. Santorum, who is 53, is a former U.S. senator from Pennsylvania.

Romney’s campaign team has sent top operatives inn Michigan to start an advertising blitz and to create plans to significantly raise expenses within the next two weeks to campaign in the voter-rich southern region of the state. This move comes after polls that show Santorum rising in the state. On Feb. 13, the results of two surveys were released, showing that Santorum has an edge over Romney.

The first is by 15 percentage points while the other one is by six points. According to Detroit News-WDIV poll recently released, Santorum is ahead with 34% to Romney’s 30.4%. The telephone poll of 500 potentially Republican primary voters took place on Feb. 11-13 and has a margin of error of plus or minus 4.4 percentage points. [source: freep]

Topics: gm, chrysler

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