AT: Back in 2012, the Obama re-election team reminded us that they got Osama bin Laden and saved GM. It probably gave Obama Ohio at less than 200,000 votes out of 5-plus million cast. It did not hurt in Michigan. It certainly energized the unions to cast ballots for the man who “saved” their jobs.
Yes, they got Osama bin Laden. But they didn’t really save GM or do the workers any favors on a long-term basis.
Looking back, the GM bailout was a partisan Band-Aid. I like what Kevin D. Williamson wrote about this:
What did U.S. taxpayers get for their $11.2 billion bailout of GM? About ten years of business-as-usual, and one very expensive lesson.
Bailouts don’t work…
GM’s sedan business is weak because GM’s sedans are weak: Virtually all of the best-selling sedans in the United States are made by Toyota, Honda, and Nissan more here