Set aside the irrefutable argument that unemployment would be a lot worse if Uncle Sam didn’t invest in GM, thereby saving thousands of jobs.  It now appears the taxpayer could also earn a profit on that investment.

GM is set for an IPO this week.  Initially the IPO price was set at $26 to $29.  But due to increased investor interest, the IPO price is now being set in the $32-33 range.

A higher GM share price and an increased offering size means the initial loss to U.S. taxpayers from the bailout of General Motors will be more limited than initially thought. The U.S. Treasury owns nearly 61 percent of GM as a result of its $50 billion taxpayer-funded bailout.

Based on a diluted share count of 1.9 billion, $33 per share would give GM a market value of about $63 billion. GM needs a market value of roughly $70 billion for U.S. taxpayers to break even.

The final terms for both offerings will be determined when GM prices its IPO, the company said, which is expected to be on Wednesday and it will begin trading on the New York and Toronto Stock Exchanges on Thursday.

The Feds aren’t selling all their shares at the IPO price.  Bloomberg is reporting that if the stock does well, however, we taxpayers could make a profit.

The Treasury needs to sell GM’s stock at an average of $43.67 each to break even on its entire investment, data compiled by Bloomberg show. That means the shares would have to climb to almost $50 for the government’s remaining stake to offset its loss in the IPO, the data show.

Now how will the Dems communicate this success story?