General Motors to repay another $1 Billion to the United States Government
I know most Americans aren’t happy that GM and Chrysler were given billions of dollars of taxpayer money to stay afloat. However the vast majority of those Americans are pretty stupid and don’t seem to understand how many jobs were at stake and how huge the impact would have been on our economy as a whole. Well now General Motors seems to be proving those people wrong; people who said it was a waste of money. The General plans to drop another $1 billion check off at the Capital building in Washington (or wherever it is that they take huge checks) towards the $6.7 billion in loans it received last year. This means $2 billion has been repaid to the US and $384 million has been repaid to the Canadian government. If GM succeeds at paying off the full loan by June 30, 2010, the American people will have their money back a full 5 years ahead of schedule. GM could also go public again later this year, meaning the rest of the government owned portion of GM could get its money back as well. For more details, head on over to The Detroit Free Press.
(Image source: GM)
Tags: Canada, Chevrolet Camaro, General Motors, GM, The Detroit Free Press
