What a difference a year can make in the life of a company. GM has repaid $6.7 billion in U.S. government loans ahead of schedule. When these bailout loans were granted many Americans, myself included, did not think they would ever be repaid. As a matter of fact, many people thought the U.S. government was going into the car making business. Even Chrysler reported a first quarter operating profit and boosted its cash reserves. This bailout strategy appears to be working. Not only did it help the companies involved but it definitely save many jobs, which helped the economy recovery at a quicker pace. Don't get me wrong we are not out of the woods yet and the $6.7 billion payback is only a small portion of the original $50 billion bailout. However, it is a step in the right direction and the sooner the auto makers recover then the sooner the entire U.S. economy will recover. Support America go out and buy a car built in America. That doesn't mean you have to buy an American brand car, Toyota is built in America.
These manufacturers add to the economy also.
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