GM bailout cost taxpayers billions

| October 16 2012
Christopher Cook

Obama and the Democrats are claiming that “Bin Laden is dead, but GM is alive.”

But at what cost? Billions of taxpayer dollars were funneled to unions and Obama’s allies, at the expense of everyone else. That wasn’t monopoly money, that was real money. Your money. Money that you could have used to pay the mortgage or fix the roof. Money that business owners could have used to pay employee health insurance or hire new employees. Instead, it went to save already bloated UAW jobs.

And if taxpayers were to sell our interest in the company now, we’d lose BIG.

Just a reminder of that cost.


President Barack Obama and Vice President Joe Biden have made their bailout of General Motors Company (GM) the shining star on their re-election tree. Their claim is they saved the jobs of GM employees. But that is simply not the case. Yes, they may be saving jobs for their union supporters to whom they are obligated, but high-paying middle-class non-union jobs are being exported by the Outsourcer-in-Chief faster than Felix Bumgartner fell from space this week.