You can see a union auto worker saying, “My job pays me a ridiculous $73 an hour with bennies, but it cost the taxpayer an even more ridiculous $1,541,818 to “create or save” my job.”
Pretty good deal for America, huh?
Well, it’s Obama’s argument that it’s a good deal for America.
President Barack Obama, in the heart of the U.S. auto industry, told a crowd of workers that the government bailouts of General Motors Co. and Chrysler Group LLC are giving taxpayers a return on their investment.
Heading into a congressional election season in which polls show the public skeptical about the $84.8 billion rescue and anxious about economy, Obama is using the backdrop of Detroit- area plants owned by GM and Chrysler to promote what he says is an industry revival that has saved more than a million jobs.
“The fact that we’re standing in this magnificent factory today is a testament to the decisions we made,” Obama said at a Chrysler factory that recently added a second shift of workers to build the Jeep Grand Cherokee.
Obama told about 1,000 employees at the factory that, if his opponents had been successful in blocking aid for automakers, their jobs might not exist. Their efforts are “proving the naysayers wrong,” he said.
“They said we should just walk away and let those jobs go,” Obama said. “Today, this industry is growing stronger. It’s creating new jobs.”
Voters aren’t persuaded. A Bloomberg National Poll conducted July 9-12 that shows the federal assistance package to automobile companies is becoming less popular: 48 percent say they became less supportive in recent months versus 17 percent who say they have become more supportive.
Steve Rattner, the former head of the president’s automotive task force, said that perception is disappointing.
“It appears that those of us behind it haven’t succeeded in convincing people that it’s worked,” he said in an interview.
Since GM and Chrysler exited bankruptcy a little more than a year ago, the industry — including Ford Motor Co., which didn’t seek federal aid — has re-hired 55,000 workers after shedding 334,000 in the year before.
So $84.8 billion spent, and 55,000 jobs rehired back.
Oh, and the 55,000 jobs that came back counts rehires for Ford, the company that didn’t take any of Obama’s bailouts. Or Bush’s, for that matter.
One million, five hundred and forty-one thousand, eight hundred and eighteen dollars per job. And Obama is pitching it as some kind of grand achievement worthy of a messiah.
This gets us back to the trillion dollars stimulus only adding a laughable 260 jobs per state. This gets us back to the fact that only 6% of Americans – fewer than believed they’d been anal-probed by aliens – believed the stimulus created any jobs. This gets us back to the fact that economists are saying that the stimulus didn’t help create jobs. This gets to the fact that Obama’s stimulus actually COST our economy jobs by sucking money out of the private sector and then squandering it.
Unions are happy. Of course, our children are ultimately going to be chained to giant millstones and forced to pull them in a circle for the rest of their lives. As will everyone else, including senior citizens – at least until they get “permanently retired” by a death panel. But unions are happy. And if you’re not happy, well, screw you, you racist.
And what do we get for our $85 billion besides a payoff to the labor unions that got Obama elected? Basically, we get a mostly electric clown car called the Chevy Volt that’s going to be “a car for idiots.” It will have some cache as the car for “for the intellectual elite who want to show what enlightened souls they are.” Which is tantamount to the central selling principle behind the emperor’s new clothes.
Every single Clown Car GM sells is going to lose money. But that’s okay. Because Barry Hussein – courtesy of the American taxpayer – will subsidize every Clown Car that is sold at a loss.
As for Obama’s claim that he’s “saved” a million jobs, that’s the kind of reasoning that only someone idiotic enough to buy a $41,000 clown car to show how superior they are would buy. How about this: Bush saved fifty million jobs. If you don’t think he did, you prove he didn’t. In fact, Bush saved the world. Because aliens with superior technology would have invaded earth had Bush not been commander-in-chief. Prove they wouldn’t have.
“One can search economic textbooks forever without finding a concept called ‘jobs saved,’” said Carnegie Mellon University professor Allan Mentzler. “It doesn’t exist for good reason: How can anyone know that his or her job has been saved?” Which is to say, a purely rhetorical argument that no American president has ever in history had the naked chutzpah to use amounts to the heart of Obama’s economic policy.
Had George Bush used that asinine argument to justify his economic leadership and vision, he would have been laughed right out of the White House by the media. But Barack Obama is using the asinine argument, so it obviously must be true.
We are about to see why the Soviet Union failed. The government spent all kinds of money producing crap cars to keep the party proletariat employed. But they were crap cars. And nobody bought them. The same thing applies to Obama’s GM bailout and the Chevy Klown Kar. And the same with all the boondoggles Obama built with our trillion dollars (actually with what will become our $3.27 trillion, but who’s really counting any more?).
Obama’s boast about the auto industry jobs is a microchosm of the overall stupidity of Obama’s “stimulus.” We have spent over $534 BILLION (that’s the 62% of the $862 billion stimulus that has been spent so far) in order to create some 599,108 jobs.
Do the math.
That boils down to an average of $892,220 PER JOB.
I mean, that ridiculous figure is less than the even more ridiculous figure of more than $1.5 million for each union auto job. But then again, some of those nearly 600,000 jobs probably weren’t union, which accounts for the relatively trivial figure of $892,000.
Obama is cheering all this, but the term “Pyrrhic victory” comes to mind. These victories are going to implode America into a ruin unlike anything that even historians have ever heard of.