It's Halftime: Bring in the Clowns!

Holman Jenkins weighs in the Clint ad and Obama's absurd pronouncements for and regulations of the U.S. auto industry.

No president in three decades has embraced fuel-economy regulation so fulsomely, and for good reason: Every study has found the rules to be costly, ineffectual and perverse. There is little evidence that Mr. Obama himself has ever given intelligent analysis to what he's doing or why. His one big speech advanced a perfectly silly claim that Detroit's troubles stem from building "bigger, faster" cars that the public manifestly wants and that earn Detroit most of its profits.

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