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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.
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.
Originally posted by The_Phantom
Here you can watch Obama laughing at this very issue. For maximum effect feel free to click on the 5 sec mark over and over again, that will make you feel great.
edit on 2-6-2011 by The_Phantom because: (no reason given)
Originally posted by defcon5
Originally posted by Indigo5
This article seems to have an egregious amount of inaccuracies spun with partisan intent.