Did Chrysler Really Repay American Taxpayers?
Mollie Hemingway, Ed. ·
May 25, 2011 at 6:29am
The New York Times reports: “Chrysler said Tuesday that it had paid back $7.6 billion in loans from the American and Canadian governments, marking another significant step in the revival of the company, the smallest of the Detroit automakers.”
You can get the details over at The Washington Examiner but Conn Carroll there sums it up effectively:
So, to recap, the Obama Energy Department is loaning a foreign car company $3.5 billion so that it can pay the Treasury Department $7.6 billion even though American taxpayers spent $13 billion to save an American car company that is currently only worth $5 billion.
Kind of amazing that Obama plans to make this "success" the central pillar of his 2012 re-elect campaign.
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Aug '10
Re: Did Chrysler Really Repay American Taxpayers?
There are only three possible explanations for this strategy:
We'll know it's #3 if other campaign slogans include "the people who brought you the individual mandate" and "kicking butt in Libya."
Jun '10
Re: Did Chrysler Really Repay American Taxpayers?
NRO's Planet Gore:
But there is one inconvenient truth you won’t hear at today’s Sterling Heights, Mich., ceremony: Chrysler wouldn’t be here had it not defied its green White House masters. Chrysler’s return to profitability is a direct result of the fabulous success of its SUVs.