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.



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.

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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