Treasury Ups Losses On Automotive Bailout To Over $25.1 Billion

Agent009 submitted on 8/14/2012 Official Bell & Ross Timestamp: 9:55:14 AM

13 user comments | Views : 3,198 | Category: Misc News | Source: | SOURCE: in.reuters.com

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The U.

S. Treasury Department has said the auto industry bailout will cost taxpayers $3.4 billion more than previously thought.

Treasury now estimates the 2009 bailout will eventually cost the government $25.1 billion, according to a report sent to Congress on Friday.

That is up from the last quarterly estimate of $21.7 billion.


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Treasury Ups Losses On Automotive Bailout To Over $25.1 Billion

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Agent009

Honor thy error as a hidden intention.

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dlin

This alone justifies 'CHANGE'.

— dlin (View Profile)

Posted on 8/14/2012 10:43:39 AM | reply to this comment | Votes: 3   

Agent009

Before it is all over it will end up costing well over $30 Billion.

— Agent009 (View Profile)

Posted on 8/14/2012 1:35:40 PM | | Votes: 1   

LexSucks

"This alone justifies 'CHANGE'."

- Change to what? I get it... Let’s go back to 2008 before Obama was elected. Those were such good times. You had the financial meltdown, the housing crisis, the Auto industry was in worse trouble, the Dow was @ 7000.

Is it worse now? All of the crap that I just mentioned happened before Obama even hit the scene. The U.S.A was going to crap long before Obama. I'm not sure how some people can think that getting rid of Obama will return America back to prosperity.

— LexSucks (View Profile)

Posted on 8/14/2012 4:30:21 PM | | Votes: -1   

cyberlancer

The right thing to have done would have been to allow GM and all their suppliers to go bankrupt. It would then have been comfortably possible to sack several hundred thousand to fund a tax break for the rich. As Obama is a 1 term president, when Romney wins I hope we can all celebrate by launching another war. Maybe we should invade Canada this time.

— cyberlancer (View Profile)

Posted on 8/14/2012 3:07:47 PM | reply to this comment | Votes: 2   

LexSucks

"when Romney wins"

- Funny. Never happen.

— LexSucks (View Profile)

Posted on 8/14/2012 4:31:39 PM | | Votes: -1   

Eyecarehawaii

I personally don't blame our President(s). The root causes of our current economic crisis are much more complex. Here's an older but still relevant article to read from a fairly unbiased source.

Who Caused the Economic Crisis? (FactCheck.Org)
http://factcheck.org/2008/10/who-caused-the-economic-crisis/

— Eyecarehawaii (View Profile)

Posted on 8/16/2012 8:11:53 PM | reply to this comment | Votes: 1   

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