Thursday, January 21, 2016

What are the Real Figures in the Auto Bailout?

   We get lost in all the conflicting numbers, but an investigation of Obama's claim that the auto bailout was a profit deserves attention.
   Word searching, I see that perhaps such an investigation, by the media, is taking place.
   Look at the conflicting numbers. I saw $11.2 billion and $16.6 billion suggested as the price tag when I word searched yesterday. Today? I'm seeing much larger figures. I let one off my screen and am not finding it, but did I read $400-plus billion? I read that GM received $50 billion, alone, to help it through bankruptcy proceedings.
   I read how GM reported $1.4 billion in third-quarter net income to investors last year. Does that reflect an ability to pay back $50 billion?
   How much did the bailout really cost taxpayers? How much did the auto industry actually pay back? We want to know.
 

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