Vinstagram

"The Treasury Department says in a new report the government expects to lose more than $25 billion on the $85 billion auto bailout. That’s 15 percent higher than its previous forecast. In a monthly report sent to Congress on Friday, the Obama administration boosted its forecast of expected losses by more than $3.3 billion to almost $25.1 billion, up from $21.7 billion in the last quarterly update. The report may still underestimate the losses. The report covers predicted losses through May 31, when GM’s stock price was $22.20 a share. On Monday, GM stock fell $0.07, or 0.3 percent, to $20.47. At that price, the government would lose another $850 million on its GM bailout."

~

This is what our Venture Socialist President wants to do to every industry.  He said so himself.

Treasury: U.S. to lose $25 billion on auto bailout | The Detroit News | detroitnews.com

13 August 2012 ·

• Tags
• bailout
• obama
• taxpayers
• economy