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U.S. Saved $28.6 Billion in Auto Bailout, Study Says

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The U.S. government avoided a $28.6 billion loss and saved more than 1.45 million jobs by bailing out the automotive industry, a research group said today.

The loss would have been caused by increased public welfare payments and lost tax receipts from workers had the government not provided $82 billion of assistance to the industry, said Kristin Dziczek, director of the labor industry group at the Center for Automotive Research in Ann Arbor, Michigan.