Several days ago, President Barack Obama visited Toledo, Ohio, to argue that federal government bailouts had saved not only lots of auto industry positions but also jobs in companies that depend on autoworkers' business.
In particular, the president suggested that a Toledo eatery by the name of New Chet's Restaurant might not have survived if Washington hadn't bailed out Chrysler, which has a plant near the restaurant. Workers at the Chrysler plant sometimes buy meals from New Chet's.
But as it turns out, New Chet's didn't survive anyway. A few days after the president said the restaurant had benefited from the Chrysler bailout, New Chet's closed - after 70 years in business. The owner said the weak economy and some other factors had forced the restaurant out of business.
It would seem, at least in some cases, that the automaker bailouts were not quite so successful as some thought.
In any event, government should not be in the business of picking winners and losers through bailouts, subsidies and the like.