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News Wednesday, Feb 4 2015

Jeb Bush, Who Opposed The Auto Bailout, Set To Roll Out Economic Vision In Detroit

Feb 04, 2015

Jeb Bush is set to unveil his economic vision of “reform conservatism” in Detroit this morning. It’s an ironic if not insulting decision considering Bush flatly opposed the auto bailout, assailing it as “a form of capitalism where the government intervenes in a very muscular kind of way.” Of course, the former Lehman Brothers consultant and Barclays Capital adviser didn’t feel the same way about the bank bailouts.

The truth is, this the only economic vision Jeb Bush has subscribed to throughout his career:


Asked In A House Budget Committee Hearing Whether He Supported The Auto Bailout, Bush Simply Responded “No.” According to a transcript of a house budget committee hearing from June 1, 2012, “Mr. Van Hollen. Thank you, Mr. Chairman.     I do believe that there is a lot of agreement. But let me  just start with what sort of got me going here. The chairman in  his opening remarks again talked about the Obama administration  and crony capitalism. They continue to refer to the auto  rescue, not as an example of an important government  intervention that helped millions of jobs, but as an example of  crony capitalism.     So I just want to ask you, Governor Bush, I believe you  supported, as did a lot of us, not all of us, on a bipartisan  basis the effort that President Bush took to help rescue the  financial sector, which in part precipitated the crisis. And  many of us believe that it was also appropriate to take the  actions that President Obama did to help rescue the auto  industry and a million jobs. Did you support that effort?     Mr. Bush. No.     Mr. Van Hollen. No. Okay. ” [House Budget Committee Hearing, 6/1/12]

Bush: Auto Bailout Represents “A Form Of Capitalism Where The Government Intervenes In A Very Muscular Kind Of Way“ According to The Tampa Bay Times “Bush said that until the hearing, he hadn’t been asked his opinion on the automotive bailout or the bank bailouts. He told the committee he didn’t support the auto bailout — what he describes as ‘a form of capitalism where the government intervenes in a very muscular kind of way.’ The positions puts him in line with Romney. Bush did say, however, say that he thought some aspects of the bank bailout were necessary. Bush worked as a consultant for Lehman Brothers before its collapse, and currently serves as a senior adviser to Barclays Capital.” [The Tampa Bay Times, 6/1/12]

Politico: Jeb Bush Did Not Support The Auto Bailout. According to ” Those facts don’t seem to matter to the GOP leaders lining up to be their party’s 2016 presidential nominee. Each has made it very clear whether or not they would have supported the auto bailout. Jeb Bush: No. Ted Cruz: No. Scott Walker: No. Rick Perry: No. Chris Christie: No comment. And last, but certainly not least, Rand Paul: NO.” [, 12/18/13]

Published: Feb 4, 2015

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