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December 9, 2013

U.S Government Loses $10.5 Billion In Sale Of General Motors Stock Remaining From Obama's GM Bailout

Topics: Political News and commentaries

government motors.jpg
It's Obama-math made simple ... cash out always exceeds cash in.

DETROIT (AP) -- US government sells rest of its General Motors stock; loses $10.5 billion on bailout.

As readers will recall, saving General Motors from bankruptcy was among Barack Obama's most frequently cited achievements when he ran for re-election last year. Democrats everywhere touted the company's revival as proof of the 2009 bailout's wisdom. That was then. Now, not only did Obama's bailout cost the American taxpayers $10.5 billion, he earlier quietly released GM from a bailout requirement that it increase its production in the U.S.- resulting in GM spending billions of dollars building up its production capacity in --- China.

Simply put, Obama threw away $10.5 billion for GM to send billions of dollars to China that provides jobs for the Chinese!


Posted by Hyscience at December 9, 2013 4:46 PM



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