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Treasury will lose about $25 billion in auto bailout

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    Doug McKelway reports from Washington, D.C.

  • Duration 2:21
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Some brand new numbers just out on the auto bailout as the Treasury Department now says it expects to lose.

More than 25 billion of your taxpayer dollars and it could get worse because the treasury report covered predicted losses through last may.

-- back then GM stock was it more than 22 dollars a share it is trading now at a much lower price.

But Michelle -- is live in Washington the Obama administration has been touting the auto bailout in recent campaign appearances right done.

That's right John and keep in mind that that many of those auto industry states are also.

Very key swing states the president again touted the bailout during an appearance -- Council Bluffs, Iowa just yesterday.

Up across the board.

There isn't a sharp contrast between me and mr.

-- No I don't talk about what the auto industry with the on the brink of collapse.

More than a million jobs at -- Go to -- -- let Detroit go bankrupt.

I refused to turn my back on one of the great American and -- I bet on American workers I bet on American manufacturing.

Three years later the America's auto -- -- -- come roaring back.

But -- new figures released by the Treasury Department show the Obama administration's decision to bail out Chrysler and GM is costing taxpayers much more.

Than what the president said it would cost on Friday the Treasury Department says the bailout would cost taxpayers 25 point one billion dollars that's up.

From 21 point seven billion in the last quarterly projections.

Further as part of the -- remember -- 2200 dealerships were forced to shut down 220 of those dealerships are suing the Obama administration.

On the grounds that the cancellation of their franchise agreements.

Was a violation -- constitutional rights the cut the Romney campaign featured one such dealer in recent ad that ran in Ohio.

I received a letter General Motors they were spending.

My credit line.

Well we had thirty some employees that were out of work my wife and I were the last ones -- -- like the dream.

That we work for that we worked so hard forward.

So look for the Romney campaign to hone in on the rising cost of that auto industry bailout in the days to come out and to -- way -- in Washington -- thank you.

What everything has.

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