On CNBC yesterday, Andrew Ross Sorkin Asked President Obama’s auto bailout czar Steve Rattner, “Do you think that the taxpayer is ultimately gonna get paid back on GM?”
Rattner responded, “No, but we never said the taxpayer was gonna get paid back.”
That is just plain false. On July 29th, 2010, Obama said, “We are going to get all the money back that we invested in those car companies.”
Rattner went on to claim that the auto bailout will only cost taxpayers $14 billion, but that is also false. The Washington Post‘s Charles Lane noted last week that if the Obama administration sold their share of General Motors stock on the open market today, the total cost of just the General Motors bailout for taxpayers would be $23.6 billion.
