Congratulations: The UAW bailout cost each federal income taxpayer about $357

About 140 million people file tax returns, but only half of them actually owe any federal income tax liability. That makes about 70 million federal taxpayers. Divide that number into the $25 billion cost of the auto UAW bailout and each federal income taxpayer is out about $357.

Washington -The Treasury Department says in a new report the government expects to lose more than $25 billion on the $85 billion auto bailout. That's 15 percent higher than its previous forecast.

In a monthly report sent to Congress on Friday, the Obama administration boosted its forecast of expected losses by more than $3.3 billion to almost $25.1 billion, up from $21.7 billion in the last quarterly update.

The report may still underestimate the losses. The report covers predicted losses through May 31, when GM's stock price was $22.20 a share.

Apparently, the $25 billion loss is a conservative estimate.