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View Diary: Chrysler announces 1,100 new jobs in Toledo, Ohio (61 comments)

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  •  Daniel Gross can go suck an egg (2+ / 0-)
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    Dragon5616, happy camper

    Since when do myopic tweets about complex financial matters cover the truth?  I'll take other sources who can see the bigger picture thank you.

    Including the $1.3 billion loss on its Chrysler investment, announced Thursday, the United States government has lost about $14 billion on the auto industry bail-out. All in all, it was a bargain.

    That $14 billion figure is far less than than the $40 billion bath the Congressional Budget Office expected U.S. taxpayers to take in the total auto industry bailout.

    Saying the U.S. taxpayer "lost money" is probably the wrong perspective, considering that spending no money at all likely would have meant a financial catastrophe for millions of Americans far in excess of a mere $14 billion.

    Had GM and Chrysler collapsed, it would have cost the federal government about $28.6 billion in lost tax revenues and assistance to the unemployed in just the first two years alone, according to the Michigan-based Center for Automotive Research. In other words, doing nothing could have cost more than twice as much the bailout.

    I'm not liberal. I'm actually just anti-evil, OK? - Elon James White

    by Satya1 on Sat Nov 19, 2011 at 10:05:38 AM PST

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