Posts Tagged ‘taxpayer losses’

How much has the (Union) GM Bailout COST the US Taxpayer??

August 15, 2012

I have written about Government General Motors and the Bailout in the past (all the way back in June of 2011), detailing what the Liar Commander-In-Chief’s Administration has said.  The relevant quote is as follows:

“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.”

At the time I criticized the analysis.  Needless to say…….I was CORRECT!!!

Here is a recent article from FoxNews, which is titled:

“Taxpayer losses tied to auto bailout rise

Shocked!!!!  I am Shocked I tell you. (sarc off)

So how much do “they” say it is now, you ask??

“And on Friday, the Treasury Department announced that expected losses to taxpayers from the bailout would increase more than $3.3 billion to $25.1 billionup from $21.7 billion last quarter.”

In ONE year the estimate has almost DOUBLED from their initial propaganda estimate!!!  Oh wait….that sounds like the Federal Government.  Have IDIOTS or PROPAGANDISTS make an estimate that is GROSSLY inaccurate in order to start a project and then GOUGE the taxpayers for any “overruns”.  But don’t worry, ObamaCare will ONLY COST $1 TRILLION!!!  Call me skeptical.

AND this number STILL does NOT include the $45.4 BILLION in taxes that have been forgiven in the future!!!  That is….IF they EVER make money again.  And that is a BIG IF!!!