Editorial: It's In The Best Interest Of The Taxpayers

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It’s in the best interest of the American and Canadian taxpayers to let GM and Chrysler enter Chapter 11 bankruptcy. General Motors (henceforth referred to as Government Motors) has asked for another USD$4.6 billion to meet its request from December 2 of USD$18 billion, according to Motor Authority. Then, “if” sales worsen, GM will ask to tap another USD$7.5 billion. I don’t quite see how the “if” plays into the equation, it sounds more like a “when” to me. The total bill for GM alone is approaching USD$30 billion, which is about CDN$37 billion. These staggering sums of money should be enough to get GM out of its current mess, right? Surely, all this money is enough to protect American and Canadian jobs, even in this tough economic climate, right?

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