Governor Haley Barbour on American Auto Industry, Irish Financial Crisis, and Bush-Era Tax Rates

In a televised interview on Fox News Channel's "Your World" program, Mississippi Governor Haley Barbour discussed the American auto industry, the Irish financial crisis, and the implications of Bush-era tax rates on the economy. The Governor expressed his views on the recent announcement of Nissan's plug-in electric hybrid, the Leaf, which boasts a significantly higher mileage than General Motors' Volt.

Key Takeaways:

• Governor Barbour stated that he did not favor the auto bailout by the government, citing that the system of bankruptcy in the United States would have led to similar results.
• He expressed his support for competition in the auto industry, highlighting the presence of a Nissan plant and a Toyota plant under construction in Mississippi.
• The Governor argued that the Leaf should enjoy the same $7,500 hybrid credit as the Volt, emphasizing that American cars are American cars regardless of their maker.
• He emphasized the importance of consumer choice in driving the automobile industry, as opposed to government decisions.
• Governor Barbour expressed concern about the potential contagion of the Irish financial crisis to other European countries, stating that it could upset the global economy.
• He advocated for getting spending under control in the United States and making the Bush tax cuts permanent to reduce uncertainty and promote economic growth.

Statistics:

• The Leaf boasts a significantly higher mileage than General Motors' Volt, with a reported 99 miles per gallon (according to Nissan).
• The Irish financial crisis has led to concerns about a potential $110 billion bailout for Ireland.
• Portugal and Spain are facing economic concerns, with a potential new contagion spreading in Europe.

Sources:

• Fox News Channel's "Your World" program with Neil Cavuto
• Federal News Service, Inc.
• Copyright 2010 by Federal News Service, Inc.