Quote:
Originally Posted by Cmicasa the Great XvX
U don't seem to be the one understanding. THE TARP FUNDS WERE PART OF THE MONEY OWED. THEY WERE GIVEN BACK. It's no different than when the banks gave back their funds. All this talk is nothing more than rhetoric for haters of the Obama Administration and AMERICAN Industry.
and of course there are also the Ford Fans here....  |
Escrow funds are never owed unless drawn on. I'm actually going through an escrow process right now. I have a substantial amount of money set aside for me in case I need it. However, unless I draw on it, I don't owe that money. I don't even pay interest on it.
As soon as I draw from that reserve, my debt increases by the same amount and the interest against it kicks in. That's what happened here to pay off the debt which all the GM advertising is talking about- one hand got in debt so the other hand can get out of debt.
Bottom line is that the whole story is not being told to the American and Canadian taxpayers. It does look as if this whole thing was done just to put this whole "we're debt free" message out and if so, that's wrong IMO.