Big Three Bailout Bonanza as of 2-19-09Enlarge Photo
As noted earlier, we may not be trained "numbers people", but TCC staffers can usually hold their own on the brave frontier of math. Still, we've had a tough time wrapping our heads around the Big Three bailout bottom line, thanks largely to conflicting dollar figures floating across the interwebz and the He Said/She Said nature of the whole ordeal. So we did what any sensible team with access to Microsoft Access would do: we made a bar chart.
The top half is pretty accurate, based on congressional hearings and multiple reports from venerable financial outlets. The "Looming Costs" section, however, is much more nebulous: for example, the figure at the very bottom--the $9 billion associated with tax deductible interest for new car loans--is an approximation, since that provision was struck from Obama's economic stimulus package. Rumor has it, however, that it's headed back to the floor as a bill in its own right.
There are numerous other expenses we could've included, too, since there are plenty of bailout dollars headed to sister sectors of the auto industry. If you see something important that we've left out, drop us a line or make a note in the comments below; we'll try to include it in updates.
And believe us: there will be updates.