Written By : Chris Kobus

I don’t watch a ton of TV. The news, a couple of sci-fi shows (currently Caprica and Stargate Universe), the news and football. Oh, and Spongebob Squarepants because the kids like it. But in the TV that I do watch, I am yet to see this GM commercial (albeit I refocus on my laptop most commercial breaks):

What’s not said of course is that taxpayers will lose at least $59 Billion (yes – with a capital ‘B’), down the toilet and into the hands of mostly the UAW. Recently, I posted on this:

White House Press Secretary Robert Gibbs reiterated that the administration believes it will at least obtain $36.1 billion of the $49.5 billion GM bailout — the amount President Barack Obama agreed to invest in GM.

Even if that holds, which it won’t, it’s still a loss of about $13 billion. Only in the government world is this deemed a success. But there’s even more to it. As I posted earlier this month: Detroit News spews Obama propoganda: Feds to recoup $36 billion in bailout money, fail to mention GM receiving $45 billion tax furlough. The tax exemption hasn’t been reported in the establishment MSM. It will cost taxpayers $45.4 billion over the next several year. Add that to at least $13.4 billion that taxpayers guaranteed to lose, and we have a minimum loss of $59 Billion. Since Government Motors bring up the boxing analogy – no doubt using our taxpayer bailout funds – this is more akin to the reality of what has transpired between the taxpayers and The One:

Cross-posted at theblogprof

Previously:
Detroit media reports: Federal auto bailouts saved 100 trillion jobs
Obama forcing GM to hire more minorities
Detroit News spews Obama propaganda: Feds to recoup $36 billion in bailout money, fail to mention GM receiving $45 billion tax furlough
Old GM CEO: We repayed the bailout in full with interest! New GM CEO: Repaying bailout could take years
Congressmen say GM is destroying documents related to their fraudulent commercial
GM in line for $10 billion government grant, declared “financially viable” even after payback fraud
Obama car czar Steve Rattner: yeah – GM lied their butts off about paying back the taxpayers
GM False Advertising Challenged by Watchdog Competitive Enterprise Institute in FTC Filing
New York Times: GM’s ‘repayment’ of loan is a total fraud
Reason TV Video: How The Hell Did GM Pay Back Its Loans “in Full And Ahead of Schedule”? Well, It Didn’t
Rep. Darrell Issa (R-CA) to GM on bailout shell game: “dangerously close to committing fraud,” “you might have colluded with the U.S. Treasury to deceive the American public”
Macomb Daily injects bias into news stories, claims GM critics just like the Confederacy or something
Good grief! US Treasury defends GM paying off loan with other loan money
As GM plays bailout shell game, Ford reports $2.1 billion profit; will boost production
GM Could Be in Trouble With The FTC Over Truth in Advertising
Video: GM commercial touts government loan payback that is proven to be a fraud
GM pays TARP loan with TARP money, Part 2 – Left-Wingers, Firedoglake, Wipe Egg From Faces
GM Repays $8.1 Billion Government Loan With Government Money

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