Quote:
Originally Posted by Aladdin Sane
The Special Inspector General for TARP, Neil Barofsky, made headlines this week when he estimated that the Obama administration had committed itself to spending as much as $24,000,000,000,000 to fix the American economy. The Treasury fired back at its own SIGTARP, saying that Barofsky inflated the numbers and that they had no intention of spending almost twice America’s annual GDP. In an interview with ABC’s Jake Tapper, Barofsky explains that the White House currently has dozens of programs dispensing cash, and that the caps on all of those add up to the $24-trillion mark:...
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Barokfsy later went on CNN to debunk his own numbers.
Its more like $3 trillion, including including loans that have yet to be, but are likely to be repaid....so it is probably far less than the $3 trillion.
Bailout: What's really at stake for taxpayers - Jul. 22, 2009
Added:
BTW, it was the Democratic Congress that
pushed through legislation earlier this year, that Obama signed, that gave more authority to the TARP IG and strengthened the oversight of TARP......a measure the Republicans in the Senate stalled last session and Bush would not accept when the TARP legislation was initially enacted on his watch.