Yahoo Answers is shutting down on May 4th, 2021 (Eastern Time) and the Yahoo Answers website is now in read-only mode. There will be no changes to other Yahoo properties or services, or your Yahoo account. You can find more information about the Yahoo Answers shutdown and how to download your data on this help page.
Trending News
So, where does the tax payer bailout of GM leave the country?
As you should know the U.S. Treasury ( you and me ) loaned GM $49.5 billion dollars to Bail them out. We were told this HAD to be done to avoid their collapse and huge negative impact on the U.S. economy. Whether or not that premise is accurate is accepted or rejected primarily based on ones political belief. However, one result of the bailout is certain, based on FACT. America's investment in GM has resulted in a loss of $10.5 billion! That's a 21+% loss on every dollar given to GM. Sound good to you? If you had invested $1,000, would you be happy getting $790 back? Since we are talking about, "To Big To Fail", how do you feel about bailing out individual states? Do you think that won't happen? If so, how do you think, for instance, California will every payment of its multi billion dollar debt?
6 Answers
- Chewy Ivan 2Lv 77 years agoFavorite Answer
Pretty good shape since the bailout made sure hundreds of thousands of Americans were able to keep their jobs. Otherwise, we would have lost a lot more than $10.5 billion in tax revenues and extra burdens on welfare programs.
I don't think we will need to bailout California. They seem to be getting their budget problems under control.
- tonalc2Lv 77 years ago
The bailout of GM saved over a million jobs.
And in the instance of California repaying debt--note that its debt service is now under 8 percent. This means the state's general obligation bonds have become more competitive with higher-rated bonds. Plus, California recently refinanced billions of dollars of bonds at a much lower rate.
California has not received any bailouts. Know who has? Texas. The state that brags about its balanced budget did it with stimulus money.
- Anonymous7 years ago
The Center for Automotive Research in Ann Arbor, Mich., has concluded that the action was one of the most successful interventions into private industry “in U.S. economic history.” CAR says the sum total in bailing out GM alone was $39.4 billion positive impact on net government spending and revenue.
http://blogs.wsj.com/corporate-intelligence/2013/1...
That's what the FACTS say--stop watching Faux News, please.
