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“After 3½ years, the Troubled Asset Relief Program (“TARP”) continues to be an active and significant part of the Government’s response to the financial crisis. It is a widely held misconception that TARP will make a profit. The most recent cost estimate for TARP is a loss of $60 billion. Taxpayers are still owed $118.5 billion (including $14 billion written off or otherwise lost).” http://go.politicoemail.com/?qs=4d2a9c2d4a61f53eb27bb84a99d237a5b9da0b3dcc6b79db5fdc552f33ac0825 …And Funds to Help Homeowners HAVEN’T Been Paid Zero Hedge Apologists for government bailouts push two main myths: That all of the bailout funds have been repaid That the bailouts helped the average American But the official government overseer of the Tarp bailout program – the special inspector general for TARP, Christy L. Romero – has debunked both myths. Today, Romero wrote the following to Congress: After 3½ years, the Troubled Asset Relief Program (“TARP”) continues to [...] From Washington’s Blog: Apologists for government bailouts push two main myths: - That all of the bailout funds have been repaid But the official government overseer of the Tarp bailout program – the special inspector general for TARP, Christy L. Romero – has debunked both myths. Today, Romero wrote the following to Congress: After 3 1/2 years, the Troubled Asset Relief Program (“TARP”) continues to be an active and [...] President Obama’s national health care law will cost $1.76 trillion over a decade, according to a new projection released today by the Congressional Budget Office, rather than the $940 billion forecast when it was signed into law. Democrats employed many accounting tricks when they were pushing through the national health care legislation, the most egregious of which was to delay full implementation of the law until 2014, so it would appear cheaper under [...] A few hundred billion dollars here, a few hundred billion dollars there — sooner or later we’re talking about the real cost of Barack Obama’s new socialized medicine monstrosity. Former House Speaker Nancy Pelosi once said that “we have to pass the bill so that you can find out what is in it.” Apparently, passing the legislation was also a prerequisite to determining its actual price [...] quote ….What GAO Found: The Bureau’s 2010 Census life cycle cost estimate is not reliable the fiscal year 2009 budget request did not include the cost to [...] |
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