GOVERNMENT ACCOUNTING

Government Says It Lost “Only” $9.26 Billion On Auto Bailout.

$9.26 billion is the number offered by a Department of Treasury report issued this week.

To a government mindset, this headline indicates quite a coup. The U.S. government’s automotive industry rescue program, that most benefited the UAW and other unions, recovered $70.42 billion (88%) of the $79.68 billion in loan guarantees awarded. That amounts to a thank you payment of $9.26 billion to those who contributed heavily to Democrats and the presidential campaign of Obama in particular in 2008.  Everybody gets what they want with your money!

Bear in mind, the politicians who are high fiving and patting one another on the back are the same people who vote themselves a per diem of $150 for their meals when at work.  That’s because their place of work is over 100 miles from their homes of record. When at home, they simply expense their meals.

They commend one another for the minimal loss. They “ONLY” lost $9,260,000,000 of your money. Eh, it’s not their money. But damn, it does amount to almost a full week’s wages for most of us. Before taxes, that is.

I think what we need is a larger, less accountable, perhaps completely socialist government. As it is, what we have is only a small group of people whose spending authority is far too restricted.

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