President Obama said that Mitt Romney wanted to let Detroit go bankrupt, and not save the auto industry.
Romney countered that Obama did in fact let General Motors and Chrysler go bankrupt.
“That is precisely what I recommended,” Romney said.
But Obama said that is not the whole truth and Romney wanted to let the automakers go bankrupt and not do anything after that. The federal government bailed out the industry, which helped them restructure, lose debt and begin hiring again.
“We would have lost one million jobs,” Obama said.
Romney tried to rebut Obama, but moderator moved the debate onto the next question.
“That Detroit answer … is way off the mark,” Romney said.