According to bumper stickers, we ought to re-elected Obama because “Osama-bin-Laden is dead and GM is alive.” Talk about a monumental non-sequitur! Are we to ignore all the past and prospective damage this incorrigible statist has done and will do?

But I digress. Let’s focus on the General Motors claim. That’s what Randal O’Toole does here. He observes that if the feds had allowed normal bankruptcy proceedings to take place, the end result would have been an “alive” GM (and Chrysler), but with lower labor costs and without traducing the established law on the seniority of creditor claims. What the government did was to bail out the UAW at the expense of creditors and taxpayers.

Unfortunately, you can’t put that on a bumper sticker.