# It’s Official: Taxpayers Will Lose Tens of Billions on Chrysler, GM Bailout



## .454 (Apr 12, 2009)

CNBC video here

A Congressional oversight panel warns taxpayers are facing huge losses on the government’s $81 billion auto industry bailout. Elizabeth Warren, the panel’s chair, discusses the findings.

* The report said that a $5.4 billion portion of the $10.5 billion owed by Chrysler is “highly unlikely” to be repaid.
* Full recovery of the $50 billion sunk into GM would require the company’s stock to reach unprecedented heights.
* The report also recommended that the Treasury Department provide a legal analysis justifying the use of financial rescue funds for the automakers.
* In all, the government has invested $74 billion in the nation’s auto industry

Congratulations Obama and Obamadroids! Not only you did not saved the domestic automobile industry, you put our children in debt to their eyeballs.

Here is another video from NBC last night where Brian Williams reported that the Obama Administration's "Cash for Clunkers" program was underwhelming in helping Chrysler and General Motors. Of the big three American car makers, only Ford was up in August sales over August 2008, with a 17% gain. Chrysler was down 15%, and General Motors was down 20% - even with the "Cash for Clunkers" incentive. Toyota was up 6%. 
NOTE: What happens in the coming months with no government boondoggle incentive?


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## junker (Jul 11, 2008)

I may have overlooked it but could you point out how this relates to hunting rights and legislation?

thanks


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## .454 (Apr 12, 2009)

junker said:


> I may have overlooked it but could you point out how this relates to hunting rights and legislation?
> 
> thanks


It relates in EXACTLY the same manner as the thread about President Obama's Speech To Kids started by your comrade Timboj in this forum section. Which thread by the way, you seem to be perfectly OK with.

You're welcome.:wink:


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## BigBirdVA (Nov 5, 2002)

.454 said:


> It relates in EXACTLY the same manner as the thread about President Obama's Speech To Kids started by your comrade Timboj in this forum section. Which thread by the way, you seem to be perfectly OK with.
> 
> You're welcome.:wink:


Hmmmmmm......... you should be familiar with this practice....... It's ok if "_we_" deem it ok just as it's ok to spend and run up the deficit if _"we"_ deem it ok. 

Spend is a term used loosely here. Throw out the window is more fitting.


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## junker (Jul 11, 2008)

.454 said:


> It relates in EXACTLY the same manner as the thread about President Obama's Speech To Kids started by your comrade Timboj in this forum section. Which thread by the way, you seem to be perfectly OK with.
> 
> You're welcome.:wink:


I like tim.


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## .454 (Apr 12, 2009)

junker said:


> I like tim.


Then why don't you marry him? :wink:


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## junker (Jul 11, 2008)

.454 said:


> Then why don't you marry him? :wink:


nice. my wife hates when i say that.


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## .454 (Apr 12, 2009)

junker said:


> nice. my wife hates when i say that.


Let's get back to the topic, shall we?




> *Cash for Clunkers Failed to Create Auto Jobs*
> 
> Congress passed the Cash for Clunkers program in order to increase automobile employment and save jobs. As Michigan Sen. Debbie Stabenow – a key supporter of the law – put it, “This is a jobs program first.” Cash for Clunkers has done many things. It has given hundreds of thousands of Americans vouchers worth between $3,500 and $4,500. It has encouraged many Americans to trade in old cars now instead of waiting a few years. It has destroyed valuable used cars that dealers would have resold to low-income Americans. It has added $3 billion to the national debt. But the new jobs report shows that Cash for Clunkers has not done the one thing Congress intended it to do: create jobs.
> 
> The employment report shows that – despite the Cash for Clunkers craze, and the $2 billion Congress added to the program at the end of July – motor vehicles and parts manufactures shed 15,000 jobs in August. That erased half of the jobs gained in July and continued the yearlong downward trend. The Commerce Department separately reported that spending on automobiles increased between June and July when Cash for Clunkers kicked in. However, while spending on cars went up, spending on other goods and services fell. Handing out taxpayer dollars is popular, but that does not make it good – or effective – policy.


Great job Obama! ukey:


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## AR_Headhunter (Aug 17, 2009)

Some of this surprises no one. Namely libtards who expect freebies from our government. The working people are getting fed up!


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## junker (Jul 11, 2008)

.454 said:


> Let's get back to the topic, shall we?QUOTE]
> 
> nah, your topics are boring. who comes to an archery website and posts thread after thread after thread about how you dislike obama? You do...that's who.
> 
> ...


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## .454 (Apr 12, 2009)

junker said:


> .454 said:
> 
> 
> > Let's get back to the topic, shall we?QUOTE]
> ...


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## Moon (Jul 16, 2006)

*As a life long MOPAR/ Chrysler nut*

440 Roadrunners/ 340 Darts/ Dodge Ram/ PT Cruisers, etc...................I'll never buy another one. Osama............I mean Obama gave 53% of the company to the labor union thugs. That's it for me. No GM's either. In the future, my choices will be between Ford, Honda and Toyota. 

This country is going to hell in a hurry. Sit back and watch the show


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## BigBirdVA (Nov 5, 2002)

Moonkryket said:


> 440 Roadrunners/ 340 Darts/ Dodge Ram/ PT Cruisers, etc...................I'll never buy another one. Osama............I mean Obama gave 53% of the company to the labor union thugs. That's it for me. No GM's either. In the future, my choices will be between Ford, Honda and Toyota.
> 
> This country is going to hell in a hurry. Sit back and watch the show


This winter when things slow down it should be real interesting. Maybe they can dream up some more schemes to sell imported products to help out our friends across the big pond. 

Rode by the terminals today and the containers there and waiting to unload are way down. Only 1 ship at the docks. Last time I was by the bay the ships waiting to unload was down as well. This is the least amount of ship traffic I've ever seen. The trailer racks are full so that means nothing on the road either. What will our new friends in China do when it bottoms out? I know Blame Bush ! Worked for the Messiah.


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## wvbearman (Aug 7, 2009)

"Ford was up in August sales over August 2008, with a 17% gain. "

Looks like the majority of Americans still believe in the principals of capitalism and limited government. 

What happened to GM and Crysler? 

Proves the government has never gotten it right... and is scares me to think what could happen if they take over health care.


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