Everyone should get a Chevy Volt! We’ve already paid for it anyways…
Quantifying just how much taxpayer money will have been wasted on the hastily developed Volt is no easy feat. Start with the $50 billion bailout (without which none of this would have been necessary), add $240 million in Energy Department grants doled out to G.M. last summer, $150 million in federal money to the Volt’s Korean battery supplier, up to $1.5 billion in tax breaks for purchasers and other consumer incentives, and some significant portion of the $14 billion loan G.M. got in 2008 for “retooling” its plants, and you’ve got some idea of how much taxpayer cash is built into every Volt.
via nytimes.com
With this much taxpayer money being sunk into the Chevy Volt, it’s unbelievable we’re not all getting a free one.
Sure GM is profitable TODAY, but the amount of cost that was sunk into all this will be tough for the US taxpayers to get back. It’s that same kind of short sighted thinking that got us into the mess we’re in today.
