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By Mil Arcega
31 December 2008
The U.S. Treasury Department says it will provide $6 billion to the financing arm of General Motors to help insure the struggling car company stays in business.
|Rows of cars sit on the lot at the Lordstown, Ohio GM plant, 12 Dec. 2008 |
The government aid will provide a much-needed boost to domestic auto sales by freeing up more credit for consumers. But analysts say that's just the tip of the iceberg.
Taxpayers are likely to dole out more money next year to keep U.S. automakers in business.