Is the Obama Administration Done Shelling Out for GM?

Is this the end of the end for government bailouts of GM?

By U.S. News Staff

June 2, 2009 RSS Feed Print

Reports NPR: "Automaker GM filed for bankruptcy Monday and the Obama administration said it will provide another $30 billion to keep the company operating, making the federal government the company's majority shareholder." The added government money comes atop the nearly $20 billion already invested in GM. Will the government end up giving more money to ailing GM? Or is this $30 billion the last of the last? Post your thoughts.

Previously: Is Bush Angry at Cheney?

Take our poll: Is the government done bailing out GM?

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The worlds population is about 7 billion people. Obama's last GM bailout was $30 billion dollars. That means every person on the planet earth could of had just over $4.2 billion dollars to themselves, with money left over.

So what is Obama doing to this Country/World????

So Who wants 60% of GM??? NOT ME!!!!

Jeremy Giles of WA 1:35PM June 03, 2009

WE (china) has paid for this HUGE mistake. The American taxpayers should be distributed the STOCK OWNERSHIP so WE get to fire CEOs if needed instead of OUR all-knowing/all-controlling Government.

If Obama continues to follow his Favorite Political/Economic model, we'll soon be introduced to the new USA "People's Car"...

The "Pokes Wagon" that will closely resemble the Flint-mobile.

Stone wheels (non-petroleum based), Wood frame (renewable resource), people powered (no one will afford gas with inflation) and slow since no one will be in a hurry to get to their JOB.

Chris Petty of GA 12:18AM June 03, 2009

It is hard to imagine that GM is going to turn things around any time soon. Nothing has occurred to change consumers' minds (I wouldn't buy a GM product); and given recent treatment, investors won't be lining up to hand over cash. So it seems quite likely we taxpayers will be hit again; at this point Obama is too invested to let GM fail completely.

Brad of TX 10:58AM June 02, 2009

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