The Patriot Post® · GM Bailout Cost $11.2B

The Treasury Department revised the amount of money taxpayers lost on the GM bailout, now pegged at $11.2 billion – up more than $800 million from earlier estimates. Reuters explains, “The $11.2 billion loss includes a write-off in March of the government’s remaining $826 million investment in ‘old’ GM, the quarterly report by a Treasury watchdog said.” Not only does the cost of the bailout keep going up, but so does GM’s troubles. The company is in the midst of a criminal probe over faulty ignition switches.