Taxpayers’ Auto Bailout Losses Mounting

Taxpayers spent billions to prop up the compensation of some of the most highly paid workers in America

Amy Payne, --August 14, 2012

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Taxpayers will lose even more on the auto bailout than previously thought, as the Treasury has just revised its estimate upward to $25 billion. This may still underestimate the losses to come—yet President Obama plans to tout the auto bailout as a key accomplishment of his Administration.
Politico recently obtained a draft of planning documents for the Democratic National Convention, finding a repeated focus on the auto bailout. The draft described the convention’s objectives:
Tell the story of the President’s accomplishments—the auto rescue, manufacturing, ending the war, health care, energy—as central to his fight for the middle class and America’s long-term economic strength.
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