This AP story will not be well received tomorrow or in Nov. for the Democrats -- Treasury takes $1.6 billion loss on Chrysler loan

From the AJC:

The Treasury Department said Monday it will lose $1.6 billion on a loan made to Chrysler in early 2009.

Taxpayer losses from bailing out Chrysler and General Motors are expected to rise as high as $34 billion, congressional auditors have said.

The Congressional Budget Office estimated in March that the government's $85 billion bailout of the automakers would cost taxpayers $34 billion.