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Re: $14 billion loss on auto bailouts is good news, White House says 

By: micro in ROUND | Recommend this post (1)
Thu, 02 Jun 11 7:01 PM | 124 view(s)
Boardmark this board | De's Test Board 		Msg. 33232 of 45510
(This msg. is a reply to 33224 by Decomposed)
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This appears to be more of the same MAKE UP ARTISTRY by this administration by trying to put lipstick on this PIG, in order to try to convince many ignorant Americans that the Federal government had no business taking over a private sector corporation (two actually)to begin with and what did we get for it?

ADDITIONAL BILLIONS of dollars lost to add on to the skyrocketing national debt crisis, but hey, no big deal right?

After all, this is a smaller loss than Obama anticipated, after he repeatedly stated in the beginning that we would not lose money on these things.

SO which is it Obama?

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The above is a reply to the following message:
$14 billion loss on auto bailouts is good news, White House says
By: Decomposed in ROUND
Thu, 02 Jun 11 3:12 AM 		Msg. 33224 of 45510

June 1, 2011

$14 billion loss on auto bailouts is good news, White House says

By JIM KUHNHENN
The Associated Press

WASHINGTON — Taxpayers will lose about $14 billion in the government's $80 billion bailout of Chrysler and GM, the White House said Wednesday, portraying the outcome as good news since the losses are far lower than originally anticipated.

Seizing on the figures, the Obama administration took credit for the resurgence of the U.S. auto industry, assuring taxpayers that the government's bailout of Chrysler and GM was an investment worth making.

A report by the president's National Economic Council noted that as Detroit automakers rebound, the taxpayers' loss from the bailout will be about $14 billion, or less than 20 percent of the $80 billion that the Bush and Obama administration used to prop up the companies in 2008. The Treasury Department had expected losses closer to 60 percent.

Full story: http://www.msnbc.msn.com/id/43242226/ns/business-autos/

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