Latest Entry: American Pravda and New York's Sixth Crime Family     Latest Comments: Talk Back Here

« Duck Dynasty Star Phil Robertson: ''They Told Us To Stop Praying To Jesus, Don't Offend Muslims"" (Video) | Main | 'A lack of interest that borders on malfeasance' »

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

Articles Related to Political News and commentaries: