Government bailouts are always a bad idea.
Posted in the Minneapolis Forum
“I am always right.”
Since: Oct 09
Former MN Taxpayer
#1 Dec 9, 2013
The point is NOT whether it was more costly or less costly to have the Government dump billions of tax dollars into GM and Chrysler.
The point is that in a capitalistic economy, there will always be winners, and there will always be losers.
It is not the Government's place to decide who wins and who loses. It is the consumer's job to make those decisions.
That is why capitalism is the greatest economic engine this world has ever known. When the government decides who wins, rather than the consumer, you end up with economic failure as demonstrated by Barack Hussein Obama's economic policies.
We are in the midst of economic failure thanks to Obama.
Study: Demise of GM, Chrysler would have cost more than bailout
3:12 PM, December 9, 2013
By Nathan Bomey and Brent Snavely
Detroit Free Press Business Writers
Despite a loss of about $10 billion on the General Motors bailout and $2 billion on the Chrysler bailout, the government — and the economy — is better off, according to a new study.
With the U.S. government expected to sell its final shares of GM stock anyday now, the Ann Arbor-based Center for Automotive Research today released an updated version of a previous study arguing that the collapse of GM and Chrysler would have cost a lot more than the bailouts.
Since: Sep 11
#2 Dec 9, 2013
I seriously doubt it would have cost the taxpayers more without bailing out GM or Chrysler or any one else. It still makes the most sense that these bailouts by Bush and Obama were some kind of payola for campaign contributions and votes. As we have both said Irish, it is not the governments job to pick and choose who to bail out. How many thousands of small business start-ups have failed in the last 10 years? No one bother to bail them out and as you know, small to medium business provides/creates more jobs than all the big companies combined. Government bailouts always have and always will stink of corruption.
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