GM makes their case

While they argue the benefit to the government in taxes is more than worth the expenditure, I think they assume that no one gets a new job. It also assumes that the taxes from money spent through GM wouldn't materialize as taxes when that same money is spent elsewhere in the economy. Although they don't get specific on how they calculate their tax benefit.

They also seem to argue that if the government helps them through this one tight spot, they'll be great. They're on the comeback trail.

I still don't buy that. Yeah, sometimes an entity in a weakened state would make it, except for that unforeseen thing that hits it at just the wrong time. But the unforeseen thing is hitting everyone, and if it thins the herd a bit, the herd's overall fitness goes up. Gene pool = improved. If famine breaks out just as you're getting over the flu, sorry, you're toast, and probably deserved to die because your immune system sucked.

And while one in 10 jobs may be connected to the automotive industry, it's not true that 1 in 10 Americans becomes jobless without GM. Dealers can sell other cars. Parts makers can make parts for other firms. Advertising companies can make commercials for other car companies. No big deal. I'm not saying it wouldn't, in the short run, cause some economic pain. But in the long run, it's a good thing.

But here's their case, in case anyone wants to hear it.