Betting on auto industry paid off big

March 03, 2012

You remember some who said "let Detroit go bankrupt?" You also remember that guy who cavalierly offered to place a $10,000 bet. Instead of placing a "regular guy" bet of $10,000 or giving two Cadillacs to his wife, President Barack Obama made another bet. He bet on the American worker and guess what? America won. And the president says he would place that bet again.

That bet saved millions of jobs and will end up costing the U.S. taxpayer next to nothing. GM is now the No. 1 auto producer in the world. Chrysler just made its first profit in 15 years.

That bet by President Obama was a serious bet, not a $10,000 wager between Republican candidates. Was it a good bet? In the words of another "leader" of the GOP: "You betcha!"

Mel Mintz, Pikesville

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