Obama administration keeps claiming that a million jobs would have been lost without car company bailouts
From yesterday's WH press briefing.
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.
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.
Labels: bailout
posted by John Lott at 10:15 AM
2 Comments:
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
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.
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