GM's Stock Sell Won't Be Enough to Pay Back Taxpayers

General Motors continues to dupe taxpayers with commercials suggesting they have paid off their bailouts and are back on their feet. Remember sitting around during Thanksgiving watching the Dallas Cowboys game when the above feel-good commercial aired for the first time?

Apparently GM isn't on their feet at all. They still have the US taxpayer as a crutch. Just take a look at the first paragraph in today's AP news about General Motors:

WASHINGTON – By selling a block of its shares in General Motors Co. for $33 each — a price far below the "break-even" point — the government sharply reduced the chances of taxpayers fully recovering their $50 billion investment in the auto giant, a new report from a congressional watchdog says.

In other words, GM's commercials giving thanks is thanks for the billions that you and your children AND your grandchildren will end up paying back that GM stole from taxpayers. Doesn't it feel good to walk into a GM showroom these days? Bend over, drive your new Volt, and don't whine about it.