Is GM a Bailout Success Story?

Some, talking heads, especially on the left, have been calling the bailout of General Motors a bailout “success story.” Said, Bill Press on the occasion of GM supposedly paying back its federal loan, “Time for all the nay-sayers to admit they were wrong. Say it loud and clear: No doubt about it, the auto industry bail-out worked!”

But is that the real story? Of course not! As Shikha Dalmia of Reason explains in her excellent Forbes column, the amount given to GM by the Obama Administration is far greater than GM and its advocates recognize and the company is still a very long way from paying this debt back.

Of course, there is the small moral issue of forcibly taking my money and giving it to a private business, but that is so commonplace these days…