The Corner

How Much Did That New Car Cost?

The National Taxpayers Union has a new study out assessing the cost of the auto bailouts. The numbers should shock you. Not only has the subsidy to GM (and its banking division, GMAC) and Chrysler amounted to $800 per taxpaying household — money that could easily make the difference between a real Christmas and an “imagination Christmas” this year — but the subsidies per car sold are remarkable. They amount to over $12,000 per GM car and over $7,500 per Chrysler car sold. We have indeed created American Leyland.

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