U.S. taxpayers likely lost $1.3 billion in the government bailout of Chrysler, the Treasury Department announced Thursday.
Originally, the government committed a total of $12.5 billion to the struggling automaker. Of those funds, $11.2 billion has been returned...Only the government would consider a $1.3B loss a "major accomplishment." Why don't we lose $2.6B and accomplish twice as much?
Even though that means $1.3 billion will not be recovered, the Treasury called it a "major accomplishment."
No wonder we're in the mess we're in...
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