Remember the Democratic National Convention, where Obama’s first term was celebrated primarily for the auto bailout (which the speakers juxtaposed to a dishonest attack on Romney’s support for an auto bailout)?
Well, now Obama is knocking “measures providing subsidies such as grants, loans, forgone government revenue, the provision of goods and services and other incentives contingent upon export performance to automobile and automobile-parts enterprises.”
The Obama administration has sued China in the World Trade Organization over China’s auto subsidies. Seriously.
This is Obama, who bailed out GM and Chrysler with a special bankruptcy, loans, equity stakes, and loan guarantees. This is Obama, who’s stimulus included a raft of subsidies for plug-in electric cars, hybrid cars, cars converted to run on “clean fuel. This is Obama who signed “cash-for-clunkers,” which paid people to scrap old cars and buy new cars.
Now it’s offensive for China to subsidize cars?
It’s typical Obama double-speak on corporate welfare. My colleague Charlie Spiering caught Obama denouncing corporate welfare and then advocating it in the same speech today. His last State of the Union Address promised “no more handouts” and then promised more handouts.
Scott Lincicome discusses the hypocrisy of Obama’s trade suit, and has a fuller list of Obama/Bush auto subsidies.