Friday, July 30, 2010

Obama administration keeps claiming that a million jobs would have been lost without car company bailouts

From yesterday's WH press briefing.

one that is adding rather than shedding jobs, and a decision in and of itself that likely saved a million jobs and communities -- certainly saved communities from economic devastation. . . .


1) General Motors would have gone into bankruptcy. Bankruptcy is not the same thing as eliminating the company. Viable operations that could make a profit would continue.
2) Where did the government bailout money come from? The government "creates" some jobs only by taking money away from where other jobs would have existed.

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2 Comments:

Blogger ucla_alum_88 said...

The administration's "saved or created" jobs claims are ridiculous. I appreciated your comments.

I heard you on the radio (via a podcast) and I thought that your points were very interesting. I especially enjoyed your comments on gun ownership reducing crime as well as the welfare state (or the expansion of the govt) really increasing once women started voting. I had never thought of the political impact of single moms voting ... very interesting (and makes much sense given their increasing numbers). You got me thinking! I liked your comments so much that I ordered your book Freedomnomics.

Mike
Danville, CA

August 16, 2010 at 12:03 PM  
Blogger John Lott said...

Thanks very much, Mike. I graduated with a BA from UCLA in 1980 and got my Ph.D. in 1984. I appreciate you ordering the book. Any feedback would be greatly appreciated. Thanks.

August 16, 2010 at 12:06 PM  

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