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Obama puff film contains $25 billion error on GM bailout

Saturday, March 17, 2012

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The Obama 2012 campaign has released a short film called “The Road We’ve Traveled,” detailing the challenges faced by President Barack Obama’s administration from day one through the start of the campaign.

But it’s not all roses for team Obama: part of the film contains a gross inaccuracy. Specifically, it claims that General Motors (GM) has fully repaid its federal bailout loan. It has not — meaning the documentary contains a $25 billion error.

Of the nearly $50 billion given to GM, just under half has been repaid to the government. Officials still argue the auto bailouts were a good investment due to the hundreds of thousands of jobs saved by that decision, and it is accurate to say that GM has returned to record profits — as have all the other major American automakers.

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