Steven Rattner, Obama’s Car Czar, was asked by CNBC if the taxpayers would get paid back by GM. He replied:
No, but we never said the taxpayer was gonna get paid back. We put 82 billion into the car industry as a whole. We will get back all but 14 billion plus or minus of it. But in return for that we saved 2 million jobs in the Midwest and two great American companies. You compare that to the $875 billion dollar stimulus program or the trillions of dollars of QE1,2,3.
I think the tax payers got a good deal.
Here is Obama saying “We are going to get back all the money that we invested in those car companies” (just the beginning portion):
I guess he didn’t mean ‘all of it’, just most of it. I wonder where that 4 billion went?