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“Someone blogged about it, I just can’t remember where I read it.”

That doesnt make it *true*. More specifically, the main way he wants to help is get Washington off their backs. ARomney is not in favor of a bailout at all the money mentioned is for energy research, not industrial policy. That’s not a giveaway, but is instead innovation R&D, which we already spend quite a bit on - this would focus it.

I found his Detroit economic forum speech about as Reagan-like speech as we’ve heard this season...
worth a read...

http://www.realclearpolitics.com/articles/2008/01/romney_to_the_detroit_economic.html

“And as part of this, we will directly address and rectify the enormous product cost and capital cost disadvantages that currently burden the domestic automakers. From legacy costs, to health care costs, to increased CAFE standard costs, to the cost of embedded taxes, Detroit can only thrive if Washington is an engaged partner, not a disinterested observer. The plan is going to have to include increases in funding for automotive related research as well as new tax benefits including making the Research and Development Tax Credit permanent.

“I am not open to a bail out, but I am open to a work out. Washington should not be a benefactor, but it can and must be a partner.

“But that’s only one step. Washington also has to stop loading Detroit down with unfunded mandates. Of course, we all want fuel mileage to rise, but discontinuous CAFE leaps, uncoordinated with the domestic manufacturers, and absent consideration of competitiveness, kills jobs and imperils the entire industry. Washington dictated CAFE is not the right answer.

“We also have to stop Washington politicians from imposing enormous unilateral energy costs on American manufacturing, including automotive manufacturing. For example, the McCain-Lieberman bill pending in Congress unilaterally imposes new high energy costs on U.S. manufacturers, with no safety valve. The Energy Information Agency estimated that this bill would raise electric rates by as much as 25% and gasoline by as much as 68 cents a gallon. And their estimate of the cost in U.S. jobs — 300,000 jobs. So it’s not just a job killer, it would also make it harder for families to make their ends meet.

“Now of course we have to tackle the threat of climate change. But we don’t call it America warming, we call it global warming. Placing caps and taxes on the U.S. alone just drives manufacturers to China and India, and does little more than make Washington politicians feel welcome at the embassy cocktail parties.

“Next, and you’ve heard this before, there is more healthcare cost in an automobile than steel costs. We got healthcare insurance premiums down in my state and we got everyone on track to be insured. We will work to do the same here and for the rest of the nation.

“And then a final burden, it’s time to fix the tax code. Corporations, like individuals, need lower and simpler taxes. Embedded taxes put our products at a disadvantage in our home market and wherever they compete around the world. When we send for example, a Ford Mustang overseas, it’s not just loaded with accessories. It’s loaded with our excessive healthcare costs, our excessive regulatory burdens, our excessive legal liability burden, and the taxes paid by every single automotive supplier to help put product into that car. You take off those burdens and let’s show them how fast a Mustang will actually go.” - Mitt Romney