“Gov. Malloy to Rep. Chaffetz: ‘Where have you been on a jobs bill?’”
I often get these alerts in my email — I’m sure many of you do, too — and oftentimes I’m struck by the disconnect between what, for instance, CNN thinks it’s accomplishing and what it is that’s actually being accomplished by what they choose to promote.
This is a case in point. Notes the email:
Gov. Malloy (D-CT) says to Rep. Jason Chaffetz (R-UT), “Which president saved the automobile industry? Your candidate wanted the automobile industry to go bankrupt. That’s what he said. He wrote an editorial in the paper. That would have cost another million jobs…. And by the way, when you talk about your desire to create jobs, where have you been on a jobs bill?”
This is then followed by a link to the video of the exchange.
Several things: first, the mechanism we have in this country for allowing companies in distress to file bankruptcy and then restructure enables such companies to survive and make necessary changes that will keep them viable. Romney (among others) argued that letting a couple of car companies to go through bankruptcy in the traditional way is the proper way for those companies to handle the failings of the business models they were using. Importantly, a couple of companies do not the entire “automobile industry” make: Ford, for instance, didn’t need to file for bankruptcy, and the government stepping in to save its competitors using privileged means is precisely the kind of cronyism the market shouldn’t be manipulated by government to engage in.
Second, the President bailed out the UAW and their contracts and screwed the bond holders. That is, he used the power of government to pick winners and losers by circumventing established bankruptcy law while still pretending to use the bankruptcy process. Unfairly. He took care of his constituency and at the same time showed investors that they are, in the end, only protected by law insofar as the government is willing to follow that law. And laws, to the king, are fluid.
Third, where does this “another million jobs” figure come from? Assuming GM and Chrysler were allowed to go through bankruptcy and were wholly and suddenly liquidated — and that nothing rushed to fill the market vacuum — were there even a million jobs to lose? And of course, that’s not how the market works: if some other companies sprung up or expanded to compete with, eg, Ford, they’d need experienced workers. Who would then be available on the market. But not at the same wage, because it was largely the union wage and benefits package that caused the failed companies to go under to begin with.
And finally — and this is my favorite — Governor Malloy’s casually flung accusation, “and by the way, when you talk about your desire to create jobs, where have you been on a jobs bill?” is actually quite telling, and a rather stark indictment of the Democrat’s / progressive idea about how free market capitalism works. To wit, Malloy’s accusation has no sting whatever unless one believes — as he seems to — that jobs are created when the government passes jobs bills commanding them into existence.
– Which, presumably, would then be followed by bills requiring everyone be rich, along with bills outlawing crime and war.
So we’re getting a pretty nice public showing of who exactly these progressives are and how it is they think: government owns us, and jobs are created by Congresspeople who write bills willing them into being.
That’s a lot of power, these people believe they have and deserve. And a lot of delusions about how things actually work.
It would be laughable if it wasn’t so damn frightening.