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That’s an Legends Are Born In December Shirt of 158,000 new paychecks a month under Democrats and 71,000 per month under Republicans. Republicans believe the ‘trickle down’ economic theory that cutting taxes and reducing regulations will create jobs. Those gains compare with net losses of 45 percent under Bush II, gains of about 30 percent under Bush I, and a 50 percent gain under Reagan.

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Stock prices lost about 13 percent of their value during the Carter administration. Every so often, we ought to celebrate our victories. The auto bailout is a case in point. Six years ago, President Obama bailed out the auto industry. It was wildly controversial, with the fate of General Motors and Chrysler hanging in the balance. Now, it’s clear that the bailout was a solid success.

The revitalized auto industry has been a pocket of strength in a lackluster economic recovery. Motor vehicles and parts have provided 25 percent of the recovery’s gain in manufacturing, despite representing only 6 percent of manufacturing’s value added. Since mid-2009, the number of manufacturing jobs increased by 256,000, up 41 percent from the low of 623,300. Dealerships and parts stores added another 225,000.

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GM and Chrysler are also more competitive. As conditions for government aid, the companies closed several dozen plants, pared billions of debt, adopted lower wages for new workers and slashed the number of dealerships. The companies returned to profitability in 2010 and recouped some of their lost market share.

In mid-2014, the Big Three (Ford avoided federal aid) had a market share of 45.1 percent, up from its 2009 low of 43.7 percent but below the pre-crisis 50.5 percent. The auto companies have now repaid taxpayers every dime. Even some bailout supporters profess surprise at how well it worked.

The manufacturing sector employed 12 million workers in 2013, or about 8.8 percent of total U.S. employment. Manufacturing employs a higher share of workers without a college degree than the economy overall. On average, non-college-educated workers in manufacturing made 10.9 percent more than similar workers in the rest of the Legends Are Born In December Shirt in 2012–2013.