From tonight’s address to Congress:

But we are committed to the goal of a re-tooled, re-imagined auto industry that can compete and win. Millions of jobs depend on it. Scores of communities depend on it. And I believe the nation that invented the automobile cannot walk away from it.

The first internal combustion engine was designed in Switzerland; the modern automobile—powered by either a gasoline or diesel internal combustion engine—was invented in Germany. What, now we have to bail out their auto industries, too?

But, hey, I won’t begrudge his economically vacuous rhetoric. It’s really just an excuse to spread other people’s wealth across our fifty-seven states anyway.