Posted on 04/01/2011 5:14:41 AM PDT by Hojczyk
Barack Obama has some 'splaining to do about taxpayers' profitable "investment" in General Motors. It turns out the president is imagining things.
However, a March 16 Congressional Oversight report, tells a different story. It estimates taxpayers will be out of $25 billion. Additionally, the report points out that “full repayment will not be possible unless the government is able to sell its remaining shares at a far higher price.”
That's only the beginning. Both the White House and the Congressional Oversight report omit the fact that during its bankruptcy, GM got a $45 billion tax break, courtesy of the American people.
(Excerpt) Read more at washingtontimes.com ...
im shocked, shocked i tell you....Govt loosing money...surely it cant be?
/end sarc
That’s what happens when the bulk of the bailout was for the great black hole of pension obligations.
Amazing. I'm so glad that level of loss is success! Oops! You mean Congressional Oversight report omitted a $45 billion tax break?
Why do we take either party seriously?
$84 billion is MORE than we can get these numb-nuts to CUT from the budge deficit!
bttt
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