Some impressive figures. Over 1 million jobs and over 96 billion dollars in one year.

http://www.autoblog.com/2010/12/01/s...-million-jobs/

 

"Jobs saved" is not a real economic statistic. Not only that, but I'm going to wait for a more unbiased source than one who receives 1/2 of their operating income from the government.

 

This is such a bs stat. Nobody really knows what would have happened if GM went through a normal bankruptcy.

 

Saving GM will pay for its self just in income tax revenue that wasn't lost and unemployment benefits that didn't need to be paid out.

 

I agree with this.

I cringe whenever I see these stats thrown out, like they are facts or something.

They are nothing of the kind. Since we have nothing to compare with, they could have just as easily said 100 thousand trillion (one of my sons favorites), and it would have been just as accurate.

In a standard bankrupcy, or even liquidation, GM's parts would not have ceased to exist. They would have been bought. Chances are good there would have only been a short period of no production. How this would have gone down, and how many jobs would have truly been lost, noone knows.

This is why these type of articles just reek of trying to justify what you did.

 

Like others have said there is no way of knowing how many it saved or how many it didn't, pure speculation and creative statistics. I could say it cost a million jobs to pay for the bailouts and have no more proof than this article.

 

The way I look at it, without the government stepping in, I probably wouldn't be sitting here right now typing this. I'm not complaining, personally.

 

You might be when the bill comes to pay for it and a lot of other bailouts. Looks like the debt commision is hard at work figuring out how to keep this country afloat, like removing all deductions from taxes.

 

Shouldn't you be working...

 

Does that include income taxes?

Like Jason E, I wouldn't be typing this either if the bailout didn't happen. I am not happy that the bailout had to happen, but I am happy that a potential disaster was averted as a result. To me, it was the lesser of two crappy situations.

 

The government will probably make money on the GM situation, even so the money didn't come from the tax payers, it came from the Federal Reserve (not owned by the government).

 

Yes. Nothing has been decided or acted upon yet, but the "commission" is expected to include the possibility of eliminating mortgage interest deduction, child tax credits, and so forth, in its list of recommendations...

 

They better include a heaping helping of spending cuts as well. We didn't get to this point by paying too little in taxes. That's all I'll say.

 

Oh, I agree. I was just answering JasonD's question about STOCK1SC's post.

 

In the past 10 yrs the government has flushed far more money down the toilet on other things that will have a far worse "return" than GM and Chrysler.