GM Is Using $1 Billion of Its Bailout Money In Brazil (Updated)

Saving American jobs… South American jobs.

You just can’t make this stuff up…
GM is using $1 billion of its bailout money to invest in Brazil.

Your tax dollars at work–
The Latin American Herald Tribune reported:

SAO PAULO — General Motors plans to invest $1 billion in Brazil to avoid the kind of problems the U.S. automaker is facing in its home market, said the beleaguered car maker.

According to the president of GM Brazil-Mercosur, Jaime Ardila, the funding will come from the package of financial aid that the manufacturer will receive from the U.S. government and will be used to “complete the renovation of the line of products up to 2012.”

“It wouldn’t be logical to withdraw the investment from where we’re growing, and our goal is to protect investments in emerging markets,” he said in a statement published by the business daily Gazeta Mercantil.

Previously:
Surprise!… Dem’s “Stimulus Package” Looks Like Billion $$$ ACORN Bonanza
Pelosi Tells ABC Birth Control Will Help Boost Economy
Plane Stupid… Bailed Out Citigroup Buys New $50 Million French Jet
Nancy Pelosi Explains How Fighting STDs Stimulates Economy
Figures. Dem’s Crap Sandwich Gives Cash to Illegal Aliens
Generational Theft Act Will Re-Start Trade Wars
200 Top Economists Say “Stimulus” Bill Won’t Work
Unreal!… Stimulus Includes Government Plan to Crush New Cars

UPDATE: GM says the report is not true.

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