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Obama Bailout of Gov’t Motors to Cost Taxpayers at Least $14 Billion

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James R. Healey,
USA Today
Wednesday, June 1, 2011

A report today from the president’s National Economic Council says the government will lose less than $16 billion — which would amount to 20% of the $80 billion spent to bail out the U.S. auto industry.

The government money was spent chiefly to invest or offer loans to General Motors and Chrysler. Both have been repaying debt and the government has been trying to extricate itself from ownership interests in both.

Full story here.

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This article was posted: Wednesday, June 1, 2011 at 10:13 am

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