Business News

Report: Federal Government Lost $11.2B On GM

(Washington, DC)  --  A new report from the federal government shows Washington lost eleven-point-two billion dollars bailing out General Motors, up from an original estimate of ten-point-three billion.  The increase comes after the Treasury Department found where an 826-million-dollar administrative claim had been written off in March tied to the bailout.  The government sold its last shares in the automaker in December.  Presidents Bush and Obama bailed out GM to the tune of over 50-billion dollars in aid in 2008 and 2009.

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