They're making a car that people don't want to buy.
So said White House Press Secretary Sara Sanders today, regarding General Motors feeling itself forced to eliminate 15,000 jobs, most of them in the United States. Ms. Sanders' boss met that action by GM with a threat to withdraw subsidies from the automaker. Sorry, Donald - such subsidies, like the $3,494,237,703 allotted to GM in 2014, are largely under the control of Congress.
But an economic impact more prodigious than any Sanders' disdain or Trump's threats could produce happened when General Motors moved much of their manufacturing to Mexico. The relocated 15,000 jobs represent 30,000,000 hours. As recently as 2016, the starting hourly wage for members of the United Auto Workers was roughly $23.00 per hour.
Given that, the 30,000,000 hours lost by communities and workers in Wisconsin, Ohio, and Maryland removes about $690,000,000.00 from the economies of those areas.
Many economy wonks attribute this loss to Donald Trump's tariffs and economic policies ...
No comments:
Post a Comment