Auto Bailout a Failure
President Obama often touts the bailout of Chrysler and GM as a signature achievement of his administration. But at this point, the verdict is out on whether the bailout actually benefited the economy. Taxpayers remain on the hook for billions of dollars in losses, and the Fed didn’t restructure the benefits and pensions received by auto employees, so the companies remain obligated for expenses they can’t pay over the long haul. Jenn Huhn from the Center for Freedom and Prosperity Foundation explains exactly why the bailout was bad news.
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