Fast on the heels of the $700 billion bailout for America’s banks and other financial institutions, the U.S. auto industry is now begging for a similar handout from Washington.

In another instance of a claim of being “too big to fail,” the senior executives from General Motors, Ford, and Chrysler want the American taxpayer to cough up $50 billion or more to cover their losses. At his first press conference as president-elect, Barack Obama stated clearly that he considers the auto industry to be crucial to America and deserving of a helping hand. He strongly suggested that the Detroit automakers should be among the most generously supported in any new stimulus package out of Congress.

In September, Congress approved a $25 billion subsidy to the major automakers under the guise of financing improved fuel efficiency technologies. The Energy Department soon is to be disbursing these monies.

Republican resistance, so far, to a bailout for the Detroit Big Three automakers means that an additional $25 billion may not be forthcoming in any lame duck Congressional session before the Christmas recess. But it would, most certainly, be part of any new stimulus package once the next Congress and the new president take office in January.

Or under the fear of one of the Big Three going under before the end of December, the Treasury Department may be "persuaded" by the current Democratic members of Congress into using a portion of existing $700 billion bailout money to bolster the automakers' sagging balance sheets.

But regardless of how this plays out, the Detroit automakers are no doubt expecting that they will get these tens of billions of dollars from the politicians in Washington, D.C. After all, they’ve paid for it. According to OpenSecrets.Org, which tracks lobbying expenditures by special interest groups, the Big Three auto companies have been spending a fortune on winning friends and influencing people in the halls of Congress and in the White House.

In the first half of 2008, GM spent $7.3 million on Washington lobbying activities. Ford shelled out $3.8 million, and Chrysler another $3.3 million in gaining the ears of those who redistribute taxpayers’ wealth.

As the table below shows, in the last 10 years, Detroit’s Big Three have expended $228.4 million in lobbying costs in Washington. Out of this quarter-of-a-billion dollars, GM spent $92.9 million, Ford spent $78.6 million, and Chrysler, $56.9 million.

In addition, America’s auto manufacturers donated another $20 million in support for various candidates over the last five presidential campaign cycles (1992-2008) . This has been in the form of campaign contributions from individuals and PACs.

During most of these presidential elections, 60 to 70 percent of the contributions went to Republican candidates. This year the provisional data shows  that Big Three contributions split fifty-fifty between the two major political parties. 

Besides the automaker’s combined lobbying expenses of $14.4 million in the first half of 2008, they have spent at least an additional $2.2 million dollars in supporting those who have been running for the presidency. This is a total of over $16.6 million just in the last year in influencing the political landscape in their direction.

So whether the Big Auto-friendly stimulus package is passed before Christmas or after Barack Obama takes office in the second part of January, GM, Ford, and Chrysler will have made a pretty good return on their long-term investment in buying friends in high political office.

Having invested nearly a $250 million in lobbying and campaign contributions over the last 10 years, they are likely to get, now, a hefty return on their political investment -- $50 billion. That is a dividend that even the most demanding speculator could relish.

Of course, it will be the taxpayers of America who now will have to foot that extra bill. 

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