Obama’s Legacy: The Auto Bailout

In a lot of ways, the auto bailout was the most remarkable accomplishment of Obama’s presidency.  It was an issue that didn’t play any part in the campaign, but he had to deal with it almost immediately after taking office.  There was no established playbook for dealing with the situation, and the risks were very high.

By any reasonable standard, the bailout was a huge success.  It is not at all clear that the auto industry as we know it would still exist in the Rust Belt states without it.  It was not the fiscal disaster the right predicted, and the price imposed for it was adequate to address the moral hazard question in the future.

The auto workers then showed their gratitude by voting for Trump.