Bush BOOM!!!!!

More IED Economics, courtesy of Dubya and the GOP:

G.M. Reports Big Losses as Its Woes Grow - New York Times

DETROIT, Jan. 24 — The General Motors Corporation reported today that it lost $8.6 billion in 2005, when it kicked off restructuring efforts meant to help it reverse a string of losses and face relentless industry competition.

In North America, G.M. lost more than $5 billion on its automotive operations, as sales of sport utility vehicles fell, advertising expenses rose and the company faced even higher costs for heath care expenses. Much of G.M.'s annual loss came in the fourth quarter, when the automaker lost $4.8 billion.

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