DETROIT -- Chrysler repaid $7.6 billion to American and Canadian governments Tuesday.
The Associated Press reports the company is able to pay off the large sum thanks to selling bonds and taking lower-interest bank loans.
From his trip in London, President Barack Obama says praised Chrysler’s repayment. According to the A.P., he also criticized Republicans who were against the auto bailouts.
Michigan’s former governor, Jennifer Granholm, also blasted Republicans about the topic Tuesday. In a written statement she said if it hadn’t been for the bailout, “Michigan families, Midwestern families would have been left out in the cold, no job, no income, no industry. And these voters are not going to forget it.”
The U.S. government still owns 8.6 percent of the auto-maker as part of the bailout deal.
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