Posts Tagged ‘cost the US tax payers’

How much did the bailout of Government Motors cost US??

September 23, 2011

Here is an article from MSNBC and one from the Blaze.  Both articles state what The Obama Administration has said, which is:

“The Obama administration said Wednesday that the government will lose about $14 billion in taxpayer funds from the bailout of the U.S. auto industry.”

Before you read any further decide if you agree with this statement or not.  Do you believe them??  Do you think that the bailout of General Government Motors is ONLY going to cost US $14,000,000,000 ($14 BILLION)?

Today, there are more facts coming out about the bailout and the subsequent bankruptcy.  The following are quotes from Redstate and the Wall Street Journal.

“Now it turns out, according to documents filed with federal regulators, the revamping left the car maker with another boost as it prepares to return to the stock market. It won’t have to pay $45.4 billion in taxes on future profits.”

You read that correctly, YOU and I are supplying an addition $45,400,000,000 to Government Motors.  That is an additional $45.4 BILLION.  Because it is not as if there is not enough money for other programs.

Also, The One, the smartest President in the history of the world, President Obama is either ignorant of the situation (I doubt it) or he has outright LIED to the American public………….AGAIN.  He has misstated the COST to the American Public by 75 %!!!  $14 Billion that he says it is going to cost us plus the $45.4 Billion that he has given away in future tax dollars equals $59.4 BILLION.  And that is IF His estimates are correct on the $14 Billion, which is questionable, considering the stock since the IPO has FALLEN and Government Motors can not sell the cars that it has!!

Wow, I never thought I would say this, but I wish he had treated GM just like Solyndra!!  Then it would have only cost us half a Billion dollars.