The Bailout is Back: Peters Slams Land Over Auto Rescue

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MACKINAC ISLAND, Mich. (May 28, 2014) — Politics and the automotive bailout just can’t seem to part ways.

During a candidate forum at the Detroit Regional Chamber Mackinac Policy Conference, Senate candidates Terri Lynn Land and Rep. Gary Peters (D-MI) revived the topic that was a focal point of the 2012 presidential race between President Barack Obama and former Massachusetts Gov. Mitt Romney.

While costly and controversial, the federal government’s bailout of General Motors and Chrysler is also credited with saving millions of jobs.

The Democratic congressman says Land’s lack of support for the bailout calls into question her senatorial credentials.

“It’s certainly a difference between where I am and where my opponent is, where she would not have supported that rescue,” said Peters. “I think you can’t be a U.S. senator from Michigan and not support something that is so important for our number one industry and our really, the lifeblood of who we are in the auto industry.”

According to the Center for Automative Research, the taxpayer bailout of GM saved more than one million jobs and avoided the loss of more than $129 billion in personal income in 2009 and 2010.

American taxpayers also lost more than $11 billion because of the GM bailout. They lost at least $1 billion more on the Chrysler bailout.ChryslerLOGO1

Following the forum, Land was asked about Peters’ comment.

“I always support auto workers,” said Land.

But the Republican did not commit to answering the question of whether she supported the bailout.

“I think it’s important that we have support for our auto workers,” Land said. “I think it’s important that we make sure that never happens again, that we don’t over-regulate, that we don’t overtax, that we make sure that our auto industry can have the ability to grow jobs and create a great economy here in Michigan.”

On Thursday, FOX 17 is scheduled to sit down with Land one-on-one.

We’ll have more on that tomorrow on FOX 17 News at 5 p.m. and 6 p.m.

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