The “auto bailout,” or more specifically the $80 billion in funds provided to General Motors and Chrysler by the federal government, came out of the TARP program, which also provided bailouts to major financial institutions. According to the Congressional Budget Office, a total of $80 billion was loaned to the auto industry. But all of that has since been paid back or written off by the Treasury. The real amount that the auto bailout cost the taxpayers, according to the CBO’s estimates, was $12 billion.
