Posted on 12/09/2009 4:15:50 PM PST by Red in Blue PA
WASHINGTON – The Treasury Department is acknowledging for the first time that it lost $61 billion on two key programs designed to stabilize the economy after the largest financial crisis in decades.
The government is losing more than $30 billion on lifelines extended to insurance giant American International Group Inc., according to Treasury data released Wednesday in an audit by the Government Accountability Office. It also is losing more than $30 billion on rescues of struggling automakers Chrysler and General Motors.
(Excerpt) Read more at news.yahoo.com ...
Obama Motors = FAIL
When referring to the government losing $30billion on GM and Chrysler, the pronoun “it” should instead refer to tax payers. We the people are losing $61billion. We the people are out $200 for every child, woman and man. The government doesn’t care because they have no skin in the game. It just loses money and fleeces the tax payers.
The list, ping
And gee just think that AIG money was paid to government sachs and their buddies over seas at 100% on the dollar and I can’t wait for a certain stalker to come around and tell me how we lost nothing again.
They’ll also say it’s Bushes fault.
The government isn't losing a G*d d**8 thing!
They have nothing to lose, they have ALL to use however.
A few billion dollars here, a few billion dollars there, and it starts to add up into some real money. And I’m sure those are VERY conservative figures.
but golmansucks got their money
Taxpayers Lose....every time.
Rinse and repeat.
So we flushed away 61 billion dollars to bail out foriegn banks (via AIG) and to pay back the auto unions for supporting Obama. Taxpayer and investors (pension funds, widows, and everyone else who invested in GM or Chrysler stock) get hosed. Those investor losses aren’t even included in the 61 billion dollar figure. One can’t even get their mind around numbers that big.
Nothing to see here, folks, just a little transfer of wealth under the shade of politicians and “saving the economy’.
So does this mean we can all take a $200 per household member credit on our 2009 income tax? On second thought, don’t bother to answer that question.
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