But GM is on life support.
I think this has the makings of a good Romney campaign ad.
[Update a while later]
Obama touts GM success as its market share declines along with its stock price.
Category Archives: Economics
The US Economy
…is not doing fine:
Earlier this year, the Obama White House predicted the economy would grow 3% in 2012. Today’s GDP report shows that ain’t going to happen. The Commerce Department said the economy grew at an anemic 1.5% annual rate from April through June, after a revised 2.0% in the first quarter. It now seems likely the economy will be lucky to grow at 2% for the entire year. And that’s after growing just 1.8% last year.
Check out the comparison between the Reagan recovery and the Obama “recovery.”
At this point, I think it’s fair to say that Obama built that.
Ken Salazar
Is he another Eric Holder?
I think that history will record that this administration had a lot of lying politicized hacks in the cabinet.
“You Didn’t Build That”
As Glenn says:
The key policy implication is that if he can convince enough people that you didn’t earn your success, he’ll face less opposition when he tries to take the fruits of your success for himself. And that’s what this whole “you didn’t build it” thing is about. I’m not taking your property away — it was really mine all along!
Yup.
Packed With Pork
The outrageous farm bill.
Time to clean up DC, on both sides of the aisle. Just a little over three months until our next opportunity.
Government Motors
The taxpayer loss on GM hits $35B.
Does Obama really want to run on this issue? Romney should make it clear that he didn’t save the auto industry — he saved the UAW. Temporarily.
[Update a while later]
“This isn’t investing. This is welfare.”
The Context
…is worse than the quote.
It may be that when historians discuss this election, they’ll point to that untelepromptered gaffe as the moment that Obama lost the election.
The Book Of Barack
Some readings.
Obama’s “Gaffe”
Some history and context. It’s nothing new. He was raised as a Marxist, and he’s never changed.
[Afternoon update]
No, Adam Gopnik, Adam Smith would not have agreed with Barack Obama.
“You Didn’t Build That”
Obama’s latest plagiarism from Atlas Shrugged is providing a lot of graphical fodder. And he did earn that. More devastating, I think, was Romney’s response.
[Update a while later]
The ultimate takedown of Obama’s speech:
When Obama implied at the Roanoke, Virginia rally that some businessmen refuse to pay for public works from which they benefit, he presented a thesis which, like a three-legged stool, relies on three assumptions that must all be true for the argument to remain standing:
1. That the public programs he mentioned in his speech constitute a significant portion of the federal budget;
2. That business owners don’t already pay far more than their fair share of these expenses; and
3. That these specific public benefits are a federal issue, rather than a local issue.If any of these legs fails, then the whole argument collapses.
And all of them fail. As he notes, it’s significant because it really was revealing, and an Atlas Shrugged moment.
[Update late morning]
It’s a miracle!