The KEY MOMENT of the debate last night is a perfect illustration of WHY OBAMA HAS FAILED

President Obama, last night, in an agitated, certain fashion, and with a determined almost beatific attitude called Mitt Romney on his highly distorted call to let GM go through a managed bankruptcy, thus being uncaring about ‘avg Americans’.

Mr. Romney had previously seemed well able to defend his call for this process based on the president’s actually DOING SO via govt fiat (and good luck to you if you were primary GM bondholders, or a GM dealer that the federal govt didn’t care for)

But last night Mr Obama went back to that subject and told the nation that a managed bankruptcy by the govt contains guarantees of govt support. Mr. Romney responded by saying he called for govt guarantees as well.

What followed was about 30 seconds of the president INSISTING he was correct and Romney looking at him saying ‘You are WRONG, Mr. President’. Obama then called on fact checkers.

Obama was so dead certain, and filled with conviction I actually wondered.

The president was unequivocally, categorically, galactically wrong.

HERE IS THE COLUMN

Here is the money line…

The American auto industry is vital to our national interest as an employer and as a hub for manufacturing. A managed bankruptcy may be the only path to the fundamental restructuring the industry needs. It would permit the companies to shed excess labor, pension and real estate costs. The federal government should provide guarantees for post-bankruptcy financing and assure car buyers that their warranties are not at risk.

In a managed bankruptcy, the federal government would propel newly competitive and viable automakers, rather than seal their fate with a bailout check.

Mr. Obama’s key handlers, advisers, and then as a result Mr. Obama have been DEAD WRONG over so much in the last 4 years because they are INCOMPETENT.

KEY ISSUE, KEY MOMENT, ALL THE MARBLES, INCOMPETENT