Washington -The Treasury Department says in a new report the government expects to lose more than $25 billion on the $85 billion auto bailout. That's 15 percent higher than its previous forecast.
In a monthly report sent to Congress on Friday, the Obama administration boosted its forecast of expected losses by more than $3.3 billion to almost $25.1 billion, up from $21.7 billion in the last quarterly update.
The report may still underestimate the losses. The report covers predicted losses through May 31, when GM's stock price was $22.20 a share.
http://www.detroitnews.com/article/20120813/AUTO01/208130392
What was that Romney figure again? Only 3 out of 70 businesses lost? And Obama's now taking heat for his Super Pac cancer ad which lied and distorted the truth. Typical Democrat......