Taxpayers To Not Be Paid Back After Being Forced To Relinquish Bailout Monies

President Obama indicated that the bailouts were investments by the taxpayers that would be paid back in full, with a little extra coming back.

He lied.

What a surprise!

The temporary government loans, also known as multi-billion-dollar bailouts of Chrysler and General Motors, are apparently not going to be paid back to the American taxpayers.

General Motors, on its way to being majority-owned by the federal government (GM = Government Motors), is still losing money, and spent more than it took in as a bailout. GM looks like it will wind up in bankruptcy after all, of which Conservatives said it should have done in the first place, without throwing away government money into the whole deal.

Meanwhile, it turns out also that Chrysler will not repay taxpayers the more than $7 billion bailout it received earlier this year. Bankruptcy is inevitable.

The Stimulus, it turns out, is not stimulating anything, and bailouts are nothing more than another way for the federal government to waste money, throw away tax dollars, and further screw the American People and the struggling economy.

-- Political Pistachio Conservative News and Commentary

Big surprise...auto bailouts won't be repaid - One News Now