CNNMoney: Here it comes -- more stimulus
CNNMoney: Uncovering bailout's hidden costs
SigTARP Neil Barofsky, overseer of the $700 billion TARP program, says the cost to taxpayers will be a lot greater than the government is letting on.
Oh no, CNN is critical of Chairman Obama?? CNN is not a real news network.
It's unclear exactly how much the government had to borrow to pay for TARP. But according to Barofsky's report, the government paid for 46% of its expenditures in 2009 by issuing new debt, compared with the 10-year average of 9%.
Issuing new debt... printing money. 46% of the bailout came from thin air!
Monetizing the debt. Not only did we spend a lot of money, but we didn't even use real money to pay for it.
And now they want to extended the bailout! So typical of anything the government touches, when things are failing its obviously because we aren't throwing enough money at it... could it be that the money is the problem??
No comments:
Post a Comment