U.S. government has already contributed or promised $12 billion to keep Chrysler going, which is equal to $314,000 per U.S. employee of Chrysler.

The judge overseeing the bankruptcy of Chrysler on Tuesday took a significant step toward allowing the sale of most of the automaker to Fiat, approving the bidding procedures advocated by the company and backed by the Obama administration.

Chrysler and the government together successfully argued to the Court that a speedy sale was the only way to protect tens of thousands of jobs.

As we recall, Chrysler received $4 billion in government funds through the Troubled Assets Relief Program ("TARP") in December courtesy of the Bush administration, even though the TARP funds were intended for something entirely different.

According to The Wall Street Journal, counting this $4 billion, the U.S. government has already contributed or promised $12 billion to keep Chrysler going -- or, crudely put, about $314,000 per U.S. employee of the car maker.