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Auto Bailouts Just Got Costlier

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  • Description

    FBN's Liz MacDonald on the rising cost of the auto bailouts to taxpayers.

  • Duration 2:06
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Think president Obama's been on the campaign trail touting the success of I don't bail -- even saying we should do the same for other industry because.

The American auto -- -- strip has come roaring back.

Oh.

-- -- -- the same thing with manufacturing jobs.

Not just for the auto industry but in every industry.

That could be costly -- of the kind of money.

Income numbers should it cost about the bailout is rising Elizabeth -- done this year but the bottom line.

Roaring back.

-- it's an 85 billion dollar bailout that's.

Sort of the -- or in person or get us right basically what we're seeing is the Treasury Department coming out of their numbers twelve more than 25 billion dollars.

And auto bailout cost of those costs keep rising about double from what they were last year.

And they've risen about 3.4 billion from what the Treasury Department said in February 21 points and going there so the reason behind this is because essentially.

GM stock price has been going down so -- US taxpayers still owns about a half a billion shares in GM GM still closing US taxpayers 27 billion bucks to break even there at that GM has to trade -- 53 dollars.

So -- behind all this is a drop in the GM stock price and updates of -- financial still owes taxpayers ten point eight billion -- on its sixteen point three billion.

Bailouts of the bottom line is watch this GM is gone also 45 billion dollars worth of tax breaks.

We're pretty president over twenty years.

So that is also helping the bottom line there from the US treasury.

So basically you're gonna see possibly whopping huge -- bailout cost of GM.

At the end of the at the end of the road.

And another but -- hello -- we noted governments being you know making huge purchases in fleet sales to GM TO so they're also trying to I mean it's just.

Slap stick to take credit for the GM that's interesting -- -- -- -- -- Treasury Department is saying something else that no doubt on on the bottom line from GMAC bank Mansur.

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