Vice President Biden is sure to claim during tomorrow’s debate that he and President Obama successfully bailed out GM. Most people believe the bailout saved GM from bankruptcy. The truth is, after receiving TARP money, GM went bankrupt anyway. Congressman Ryan should make sure everyone knows the truth.
"In the end, even $19.4 billion in federal help wasn't enough to keep the nation's largest automaker out of bankruptcy. The government will pour another $30 billion into GM to fund operations during its reorganization.”1
1. http://money.cnn.com/2009/06/01/news/companies/gm_bankruptcy/
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