Tuesday, December 13, 2011
"U.S. boosts estimate of auto bailout losses to $23.6B"
A billion here and a billion there.
We need to be reminded VERY frequently that the government doesn't have it's own money.
When the government makes policy like this, the lost money comes from us...
We need to be reminded VERY frequently that the government doesn't have it's own money.
When the government makes policy like this, the lost money comes from us...
David Shepardson writes about the General Motors losses and also includes this:
"In total, the government used $425 billion to bailout banks, insurance companies and automakers, and provided $45 billion in housing program assistance.
The government now expects to lose $57.33 billion, including the full cost of the housing program, up from $36.7 billion. The new estimate means the government doesn't believe it will make an overall profit on its bailouts. "