To me, that is exactly what Calvinism teaches; God chooses who will be saved. By defacto He is also choosing who will remain lost.
God chose to save some and left the others to themselves. Those He chose, He chose according to His good will and pleasure. He was not obligated to save any, yet in His mercy, He chose a #(don't know how you call this # few) that no man can #, gave them to His Son, to be their surety.
Now, if there was something in those He left in their fallen condition, then you'd have something to complain about. But those who He chose, they were just as deserving of His wrath, and consequent eternal expulsion from His presence, based upon His will and not ours. As Ephesians 2:3 says, we were children of wrath, even as others. So, we were no better than those He chose to leave in their fallen condition, hence unconditional election reigns supreme.