→ The Bailout Party

The Democrats cling to the ridiculous claim that the bailout of GM and its now-Italian competitor, Chrysler, saved 1.5 million U.S. jobs. This preposterous figure is based on the assumption that if GM and Chrysler had gone into normal bankruptcy proceedings, the entire enterprise of automobile manufacturing in the United States would have collapsed — not only at GM and Chrysler but at Ford and foreign transplants such as Toyota and Honda.

“Fact checkers” were too busy checking Paul Ryan’s marathon times to point this one out. Besides, it’s not like “GM shares have lost half their value since January 2011” or anything.