Owed to the goverment? The goverment needs to make up something like 35-40 billion dollars, which will be mostly if not all, with some saying more, in return when the IPO launches, for purchasing 60% of GM in Chapt 11.
Chap 11 dissolved a large chunk of GM's debt.
Also remember that while Ford did not take a government bail out, they did mortage the entire company to banks.
http://www.nytimes.com/2006/11/27/bu...7cnd-ford.html
They also took 5.9 billion from the government, but not with the same fanfare and hype that GM and Chrysler did.