General Motors burned through $6.2 billion in the fourth quarter of 2008 and posted a $9.6 billion loss for the quarter, the Wall Street Journal is reporting.
The losses dropped GM’s liquidity to $14 billion and include $4 billion of the $13.4 billion the auto maker received in a federal loan. GM is seeking more federal aid.
It’s best to be philosophical about this. You know, win a little, lose a little. In the end, it all balances out — on taxpayers’ backs.
I wonder if the federal government could make a car more cheaply than Detroit auto makers. It looks like we’re going to find out.