GOP Senate Leader Mitch McConnell’s not so concerned about the death of the US auto industry because Japanese companies make cars in his state:
“We also have other auto manufacturers who are doing quite well,” McConnell said, naming Toyota’s Georgetown, Ky., operation. “It happens not to be American companies and that is sad. But it’s not like we don’t have success in the auto industry. We do.”
Note that Toyota, while in better financial shape than General Motors, is not in fact doing so hot. Here’s the share price:
I don’t think I’m quite ready to go the full John Judis in terms of economic nationalism here. But it’s pretty aggravating to see these Dixie conservatives who obviously have a parochial stake in letting the Michigan-based firms die off popping up all across the media without the coverage even reflecting that fact. Whenever you see Carl Levin or Debbie Stabenow on television or quoted in the papers, it’s made clear that their views aren’t just stuff they thought up one afternoon — they’re trying to represent the interests of their constituents. But people need to understand that Bob Corker and Richard Shelby and Mitch McConnell all have equal and opposite parochial interests pushed in the other direction — if Detroit folds, then that’s way more market share for Japanese-owned, non-union factories in their home states.