Government Motors as they have come to be known, has finally made a profit. Today, the Government owned auto manufacturer reported a profit of $865 million.
We were recently told that GM paid off it’s debt to the US Government, in full, with interest and ahead of schedule. As we now know, this was a lie perpetrated on the American people by the Obama Administration. GM received $52 billion from the US government and $9.2 billion from Canada. During their bankruptcy, most of this debt was either forgiven, or converted to stock owned by the US Government. In the end, GM supposedly only owed the US $6.7 billion, which was the amount repaid. Ten cents on the dollar.