I understand opinion writers are supposed to write opinions, but wouldn't you want to consult someone who knew something about the subject before displaying your ignorance in public?
EJ Dionne writing in the Washington Post makes the claim that "government works" citing as an example the bailout of auto companies by the federal government.
"In the end, taxpayers invested some $80 billion in the effort and recouped all but approximately $10 billion of that."
Let's think about this, Mr. Dionne (regrettably, after rather than before you wrote this).
1. If your investment advisor came to you and said he should be lauded for losing 12.5% of your money, would you do so?
2. To what other uses could that $80 billion have been put? If the government had not confiscated $80B from the private sector and directed it to the auto industry, isn't it likely it would have been invested in something that had a return higher than -$10 Billion?
I'm not sure whether to damn Mr. Dionne by pointing out his ignorance of opportunity cost or to assume he is knowingly trying to mislead his readers in order to make lame excuses for government economic malfeasance.
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