In my opinion, the money quote is this one:
“The illusion of corporate welfare directed to the automotive industry in 2009 was the illusion that jobs were being saved. No, they were not. Instead of jobs being cut at General Motors or Chrysler, they were simply cut elsewhere or prevented from being created at other automotive companies that would have increased production to meet market demand in the absence of GM or Chrysler in the marketplace.”
This is exactly the position I argued for last winter. Most people responded with a "Hmmm, never thought of that.". Damn these sheep. Damn those politicians that pander to them.
Your tax dollars at work:
You can see from the chart that the corporate welfare peaked in the dying days of Paul Martin's government. With a two year trend (only two years of data with the Conservatives) you see that the trend was moving downwards. This will of course change once this "conservative" government's bailouts to GM and Chrysler are factored into this.
I was against the bailouts, but I do (somewhat) accept that their was little choice once the Americans elected President Obama and moved towards bailing out the automotive industry.
[h/t]
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