The auto industry gets richer and the rest of us–well, you know how this ends…Sonya Rose breaks down how Chrysler managed to “bail out” of paying $7 billion in taxes and how this will directly affect our pockets.  Politicking is a tough job–but somebody’s gotta do it.  Be sure to check out Sonya’s blog for all things bureaucracy.
~Toccara

(AP Photo courtesy Seth Wenig)

What a difference a day can make. After filing bankruptcy just last week, Chrysler now won’t be required to repay nearly $7 billion in bailout dollars. That translates into taxpayers being out of the $3-plus billion in financing the Obama administration provided to the ailing automobile giant to keep operations afloat, as well as a $4 billion dollar bridge loan the company received during the waning days of the Bush regime.

Don’t know about most Americans, (well actually I do) and from what I hear, the masses are still in dire personal economic straits. Families are living in the streets, hundreds of thousands of citizens are out of work or facing impending layoffs; and, still others harbor legitimate fears for their loved ones now fighting abroad in one of the two ongoing wars.

Yes, the auto industry is germane to the preservation of the America we once knew, but who has $7 billion to lose? It’s beyond disappointing for cash-strapped taxpayers to continue to face the grim prospect of losing even more money at the hands of these failed conglomerates. Money that clearly none of us can afford to lose.