But this isn’t just an all-American folly. Because every single Canadian family owns a slice of GM now. Last year, Canadian taxpayers “invested” $9.5 billion into GM, and American taxpayers spent a staggering $52 billion on the bailout. And then there’s the $2.9 billion Canada gave to Chrysler, too.
It’s clear what the big autoworkers unions got out of it: A massive subsidy for their huge wages and pensions. And GM and Chrysler got an unfair advantage over Ford and more popular Japanese competitors.
Taxpayers? Between the feds and Ontario’s spending, we paid $2.1 million for each auto job “saved.”