December 9, 2013
U.S Government Loses $10.5 Billion In Sale Of General Motors Stock Remaining From Obama's GM BailoutTopics: Political News and commentaries
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:
- U.S Government Loses $10.5 Billion In Sale Of General Motors Stock Remaining From Obama's GM Bailout - Dec 09, 2013