You may not have purchased a GM or Chrysler car, but you’re still paying for one, according to a new report by the National Taxpayer’s Union.
According to the report, every American taxpayer has put up $12,200 for every General Motors car sold through the beginning of 2011 and $7,600 for every Chrysler sold.


The study, which is based on a November report released by the Government Accountability Office, found that the average American taxpaying family has invested about $800 in the auto bailouts so far. It notes that government funding provided to General Motors, Chrysler and GMAC – the financing subsidiary that supports sales at both – now stands at a $78.9 billion.


Titled “The Auto Bailout – A Taxpayer Quagmire,” the report was authored by Thomas Hopkins, professor of economics at the University of Rochester.
"Between this and GM's plan to payback their bailout debt with other taxpayer funds, I wonder if all those Americans without work right now could think of any better ways to spend that money,” said Pete Sepp, NTU vice president for policy and communications, in a news release.


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