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    Jobs Destroyed, Not Saved Or Created

    Jobs Destroyed, Not Saved Or Created

    Chalk this one up to the category of jobs destroyed by Obama (emphasis mine):

    The Obama administration’s push to accelerate General Motors Co. and Chrysler Group LLC dealership closings, aimed at helping the companies compete, may not have been necessary and added to unemployment, a U.S. watchdog said.

    The Treasury Department should have considered whether speeding up the closings was worth the potential loss of tens of thousands of jobs, according to a report released yesterday by Neil Barofsky, special inspector general for the Troubled Asset Relief Program.

    The U.S. had rejected reorganization plans from the carmakers in March 2009, in part citing a “slow pace” for GM to scale back its dealer network.

    Remember, the Obama administration strong-armed GM and Chrysler creditors and bond holders to give up their legal rights which would have attached in a normal Chapter 11 bankruptcy.

    Chapter 11 is the method by which many industries have restructured and emerged stronger.

    Obama was in such a rush that his efforts — according to his own Treasury Dept. — likely cost tens of thousands of jobs unnecessarily, as dealerships around the country were closed on almost no notice.

    Quite a shot by team Obama. With one stone Obama damaged the rule of law in this country and put tens of thousands of people out of work.

    Great job, hot shot.

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    Is Anyone Counting “Jobs Destroyed or Averted”?

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    Hit the wrong button and deleted this comment by Reader "I" by mistake:

    "Job 1 for the Democrats–destroy as many private jobs in the US as possible."

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