GM Pays Record Bonuses Despite Owing Taxpayers Billions

General Motors Co. will pay more than $189 million to 48,000 U.S. hourly workers and millions more in performance bonuses to salaried employees despite the debt owed taxpayers.

GM still owes the US Taxpayers $27 Billion, this money can only be paid back upon sale of shares in the company, post IPO.  As of August 19 market close, GM shares are far below the IPO price now at $22.16.  The sale of taxpayer shares in GM is occurring at a loss.

Chrysler also owed $12 Billion - now forgiven entirely by the Fed and never paid back.

"Since the taxpayers helped these companies out of bankruptcy, the taxpayers should be repaid before bonuses go out," Sen. Charles Grassley, R-Iowa, said in a statement. "It sends a message that those in charge take shareholders, in this case the taxpayers, for a sucker."

Outrage?  The GM fiasco stands as a monument among monuments to the waste, fraud, abuse, and hand-feeding of Obama's crony unions.

Side note:  The money given to both auto companies is interest free.

GM says bankruptcy excuses it from repairs...