updated 12/10/2009 4:46:21 PM ET 2009-12-10T21:46:21

General Motors and Chrysler have used the majority of their bailout funds for day-to-day expenses such as payroll costs and payments to suppliers, a government watchdog has found.

A report released Thursday by the special inspector general for the $700 billion financial bailout fund said GM used 65 percent, or about $32 billion, for operating expenses such as payments to employees and suppliers. GM has received $49.5 billion from the government.

Chrysler has used 84 percent of its funds on day-to-day expenses. Chrysler has received $12.5 billion in total.

The report says GM has $13.7 billion left in bailout funds. GM's Chairman and CEO Ed Whitacre Jr. has said GM may repay its government loans in one lump sum instead of quarterly installments.

Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


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