The Headline That Haunts Romney

By Tim Alberta

February 17, 2012 | 5:31 PM

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Mitt Romney has finally acknowledged what seemed painfully obvious to so many three years ago: The most politically perilous aspect of his 2008 op-ed piece in the New York Times wasn't its content, but its headline, "Let Detroit Go Bankrupt."

Romney has suffered widespread Democratic derision for his well-known opposition to the bailout of Chrysler and General Motors, a position shared by many fellow conservatives. And while the crux of his argument -- that the automakers could have obtained private financing for a managed bankruptcy -- has been dismissed as everything from dishonest to fantastical, the brunt of the backlash against Romney centers around his seemingly callous dismissal of the city where he was born.

After three-plus years of reflection -- interrupted by constant criticism from his political opponents -- Romney now recognizes the headline is hurting his campaign. The Republican presidential hopeful told the Detroit Free Press editorial board on Thursday that, if given the chance to go back to December 2008 and re-title his opinion piece, he would change the headline to "How to Save Detroit."

Think it wouldn't have made any difference? Think again.

It's true that the substance of Romney's argument was certain to elicit opposition regardless of how it was titled. And it's also true that main thrust of Democratic attacks on Romney -- that he turned his back on his home city during its darkest hour -- would still be intact. But the headline proved especially detrimental to Romney in two critical ways: it provoked unnecessary resentment in his native state, where Romney suddenly finds himself trailing an outsider whose stance on the bailout was identical to his own; and it provided a short, sweet, neatly packaged talking point for Democrats looking to portray Romney as a cold-blooded corporate raider with little regard for the working class.

The headline also exposed perhaps Romney's greatest political vulnerability: his inability to connect with average Americans. In Romney's boardroom vernacular, "bankruptcy" represents a fresh start -- the chance for a failing company to shed excess weight and emerge leaner, stronger and better prepared for long-term success. But in living rooms and kitchens across middle class America, "bankruptcy" means something totally different -- it represents rock bottom, the worst case scenario, that losing turn of "Monopoly" or "Wheel of Fortune" where everything is taken from you.

This semantic subtlety was not lost on President Obama, who tiptoed carefully around the word "bankruptcy" during the initial phases of the auto bailout. Indeed, when announcing his reorganization plan for GM and Chrysler in March 2009, Obama prefaced his remarks thusly: "I know that when people even hear the word 'bankruptcy,' it can be a bit unsettling, so let me explain what I mean..."

To his credit, Romney now seems to realize the negative connotations attached to his 2008 headline, and has recently sought to soften the blow when discussing his prescription for managed bankruptcy. In his Detroit News op-ed last week, Romney wrote, "Managed bankruptcy may sound like a death knell. But in fact, it is a way for a troubled company to restructure itself rapidly, entering and leaving the courtroom sometimes in weeks or months instead of years, and then returning to profitable operation."

Unfortunately for Romney, the damage is mostly done. He can continue preaching the nuanced points of his auto bailout argument ahead of Michigan's Feb. 28 primary, and it could be successful in winning back some skeptical Republicans there. But if Romney survives Michigan and secures the Republican nomination, the president stands ready to relitigate the issue in a way that draws a sound bite-friendly contrast Democrats are already dreaming about: Barack Obama saved the auto industry; Mitt Romney said "Let Detroit Go Bankrupt."

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