President Obama loves taking credit for saving the American auto industry and this week a federal audit reveals that the rescue effort has fleeced U.S. taxpayers out of an astounding $ 9.7 billion. While this may seem inconceivable to most, the numbers don’t lie. The United States Treasury has recorded a $ 9.7 billion loss […]
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BY DAVID SHEPARDSON, DETROIT NEWS Washington -The U.S. Treasury Department boosted its estimate of government losses in the $ 85 billion auto bailout by $ 170 million. In the government’s latest report to Congress this month, the Treasury upped its estimate to $ 23.77 billion, up from $ 23.6 billion. Last fall, the government dramatically […]