“What’s good for General Motors is good for the country,” was a statement attributed to former GM CEO Charles Wilson in 1953, during hearings before the Senate Armed Services Committee. Could he, as Defense Secretary, make a decision adverse to the interests of General Motors? Wilson assured the Committee such a situation was inconceivable "because for years I thought what was good for the country was good for General Motors and vice versa". Later this statement got reduced.
But the words resonated because GM employed more workers than the U.S. government – second only to the number on payroll for Soviet state industries. In 1955, General Motors became the first American corporation to pay taxes of over $1 billion. (Wikipedia)
Behind Wilson’s apparent gaffe, however, GM had its gigantic reality base. It did create many millions of jobs, not only in the direct manufacture, shipping and sale of cars, trucks, and other products, but in its peripheral stimulus for rubber, glass, and all the other components required to make a car.