Treasury Ups Auto Bailout Loss Estimate

cpwill · Jan 30, 2012

...anyone else think that Mitt Romney is going to make the President regret arguing in the SOTU that this is "the kind of success story we need more of"?

The U.S. Treasury Department boosted its estimate of government losses in the $85 billion auto bailout by $170 million.

In the government's latest report to Congress this month, the Treasury upped its estimate to $23.77 billion, up from $23.6 billion.

Last fall, the government dramatically boosted its forecast of losses on the rescues of General Motors Co., Chrysler Group LLC and their finance units from $14 billion to $23.6 billion...

1Perry · Jan 30, 2012

Alternate title. Treasury States the Obvious.

joko104 · Jan 30, 2012

That's a lot of money to lose financing GM to shift its production from the USA to GM factories in China.

How much more debt spending do you think the government should do to move more American jobs to China and offshore?

AdamT · Jan 30, 2012

cpwill said:
...anyone else think that Mitt Romney is going to make the President regret arguing in the SOTU that this is "the kind of success story we need more of"?

So it's a change of less than 0.75%? Wow. Stop the presses.

The auto bailouts will absolutely be a good issue for Obama and a loser for Romney.

iliveonramen · Jan 30, 2012

Probably not much in the swing states that depend on those companies the most. Maybe it will infuriate some people in red states.

Treasury Ups Auto Bailout Loss Estimate

cpwill

1Perry

joko104

AdamT

iliveonramen

Pontificator