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> It is absolutely crazy that us Americans accept this broken system. Want to talk about broken systems? The US government bailed out GM for $51 billion dolla
by grecy 2y ago
> It is absolutely crazy that us Americans accept this broken system.
Want to talk about broken systems?
The US government bailed out GM for $51 billion dollars. That's billions that could have been spent on schools, or healthcare or much needed infrastructure.
This month, GM spent billions on stock buybacks and millions on bonuses for execs while firing a ton of regular workers.
I find it staggering Americans are not rioting in the streets. So many systems are utterly and completely broken.
- jefftk 2y ago> The US government bailed out GM for $51 billion dollars. The headline number here should be ~$11B [1] -- while the US put in more than that, they also got most of it back. [1] https://www.reuters.com/article/us-autos-gm-treasury-idUSBREA3T0MR20140430/ https://www.reuters.com/article/us-autos-gm-treasury-idUSBRE...
- coredog64 2y agoThe bailout allowed the government to impose strict conditions on GM that benefited the UAW and which they wouldn’t have gotten in a bankruptcy.
- ChadNauseam 2y agoWasn’t the GM bailout a loan that was repaid? If so, it’s not quite a 1-1 comparison to spending that much on schools
- grecy 2y agoAs per another comment, $11 billion was never repaid - pure bailout.
- kbolino 2y agoThe U.S. already spends an immense amount on schools, healthcare, and infrastructure. Our problem is not the amount spent so much as the lack of results commensurate with the cost.