Obama Blew More Money on Chevy Volt Than Entire GDP of Djibouti

  • by:
  • 08/21/2022

So far, the Obama Administration has blown more money on the Chevy Volt than the entire annual GDP of Guyana.

In new analysis from the Mackinac Center, James Hohman revealed that $3 billion in federal and state funding for the "smoking" GM Chevy Volt is costing taxpayers $250,000 per car.

Each Chevy Volt sold thus far may have as much as $250,000 in state and federal dollars in incentives behind it – a total of $3 billion altogether, according to an analysis by James Hohman, assistant director of fiscal policy at the Mackinac Center for Public Policy. Hohman looked at total state and federal assistance offered for the development and production of the Chevy Volt, General Motors’ plug-in hybrid electric vehicle.

His analysis included 18 government deals that included loans, rebates, grants and tax credits. The amount of government assistance does not include the fact that General Motors is currently 26 percent owned by the federal government.

The Volt subsidies flow through multiple companies involved in production. The analysis includes adding up the amount of government subsidies via tax credits and direct funding for not only General Motors, but other companies supplying parts for the vehicle.

To put this in perspective, the administration just blew more taxpayer dollars on the Chevy Volt than the entire GDP of Guyana ($2.48 billion), Belize ($1.47 billion) and Djibouti ($1.27 billion).

Image:
ADVERTISEMENT

Opinion

View All

Russia claims it has proof Ukraine is linked to Moscow terror attack

White House national security spokesperson John Kirby called the allegations "nonsense and propaganda...

DOOMCOCK: 'Gamergate 2' is an attempt to stop the woke assassination of our childhood heroes

It’s open season on straight white males in Hollywood, in Silicon Valley, in literature and comics, i...

MONICA CROWLEY: Ronna McDaniel's firing shows the media are tyrannical lunatics

The sanctimonious performative outrage by prominent anchors Chuck Todd, Joy Reid, Rachel Maddow, Chri...

'White supremacy' trigger warnings slapped on Peter Pan and Alice in Wonderland by UK university

York St John University warned readers that the historical children's stories are likely to contain "...