So, apparently the President is on a victory lap for only losing $14 billion of taxpayers’ money to “save” thousands and thousands of auto jobs and in the process we are told:
Ron Bloom, the president’s top manufacturing adviser, summed up the White House point of view Wednesday: “At the time the president chose to help Chrysler, at the time he chose to help General Motors, a lot of people said you’re throwing good money after bad, you’ll never get out, these companies are not savable.”
The auto industry success is a potentially powerful political story for the president. With Washington focused now on budget cutting, the administration does not have the political leverage to spend money on jobs initiatives, let alone a new economic stimulus.
Still, any claim that the administration can make that it saved or restored jobs is a plus in an environment where unemployment hovers around 9 percent.
Uh, actually, no. The argument sort of went like this. Sure, you can throw billions at GM and Chrysler. And everyone will see that. Heck, I can save GM and Chrysler if we throw enough money at them (again). What no one will see, and surely you will not remind folks while you do your victory lap three years from now, is that we will never know what would have been done with those billions of dollars and those auto assets and workers had they been politically directed at these two firms. And no doubt, this had everything to do with politics.
I’ll not rehash here the arguments that demonstrate that the losses are far larger than the $14 billion the President is celebrating.
Lies.
And big broken windows; too.
I heard that the government had expected a $60 billion loss, so a twentysomething loss is supposed to be some kind of success. Selling stupid Chevy Volts. How about Yugos? Or Lada Limousines?
Tim Geithner is still talking up what will happen to interest rates if congress does not roll over his black credit card. The horse is already out of the barn, Tim.
Maybe Stiglitz and Rizzo can get together over a campfire in the Adirondacs to talk of the success of competing economic theories and the limitations of their and our knowledge.
Not to mention how difficult it is to find a used car at this point; with some of them at such high prices, I might as well buy new (only can’t afford that).
84725 560674I like this site extremely considerably so considerably excellent info. 296363
105323 332712The when I just read a weblog, Im hoping that this doesnt disappoint me approximately this 1. Get real, Yes, it was my method to read, but When i thought youd have something intriguing to state. All I hear is really a number of whining about something which you could fix should you werent too busy trying to discover attention. 151159
107730 996751This is something I in fact need to try and do plenty of analysis into, thanks for the post 521307
515275 628014I enjoy the valuable information you offer in your articles. 386437
554838 561645Nie and informative post, your every post worth atleast something. 87182
81144 225611My wife style of bogus body art were being quite unsafe. Mother worked with gun 1st, following which they your lover snuck free of charge upon an tattoo ink ink. I was positive the fact just about every need to not be epidermal, due to the tattoo ink could be attracted from the entire body. make an own temporary tattoo 3014
496534 103405hello i discovered your post and thought it was quite informational likewise i suggest this web site about repairing lap tops Click Here 173721
150550 217748Im impressed, I should say. Genuinely rarely do you encounter a weblog thats both educative and entertaining, and let me let you know, you could have hit the nail about the head. Your concept is outstanding; ab muscles something that too couple of men and women are speaking intelligently about. Im delighted i located this in my hunt for something about it. 408337
719185 781049This really is the sort of info Ive long been in search of. Thanks for posting this info. 250393
950292 761555This weblog actually is good. How was it produced ? 365570
770715 992552Read more on that Post.Valuable info. 576751
591009 793953Its wonderful what supplementing can do for your body and your weight lifting goals! 68444
1552 198293It is truly a great and helpful piece of info. Im happy which you just shared this valuable information with us. Please stay us informed like this. Thank you for sharing. 791287