Cost of TARP

Was interested to hear that the TARP program was only $50 billion in the red. Pretty good for starting at $700 billion. AIG and GM might actually also pay us back and the net for TARP will break even.

Well that was the way it was suppose to work. Paid back and maybe even make a little money off the interest. Amazing thing is even with it almost paid back Obama still has a trillion + dollar deficit.

Scooby01_98 wrote:Well that was the way it was suppose to work. Paid back and maybe even make a little money off the interest. Amazing thing is even with it almost paid back Obama still has a trillion + dollar deficit.

I'm confused. Bush passed TARP...

Pez wrote:

Scooby01_98 wrote:Well that was the way it was suppose to work. Paid back and maybe even make a little money off the interest. Amazing thing is even with it almost paid back Obama still has a trillion + dollar deficit.

I'm confused. Bush passed TARP...

Correct but the money coming back into the treasury is coming back under Obama budget deficit.

Scooby01_98 wrote:

Pez wrote:

Scooby01_98 wrote:Well that was the way it was suppose to work. Paid back and maybe even make a little money off the interest. Amazing thing is even with it almost paid back Obama still has a trillion + dollar deficit.

I'm confused. Bush passed TARP...

Correct but the money coming back into the treasury is coming back under Obama budget deficit.

Lets cut taxes!

Pez wrote:

Scooby01_98 wrote:

Pez wrote:

Scooby01_98 wrote:Well that was the way it was suppose to work. Paid back and maybe even make a little money off the interest. Amazing thing is even with it almost paid back Obama still has a trillion + dollar deficit.

I'm confused. Bush passed TARP...

Correct but the money coming back into the treasury is coming back under Obama budget deficit.

Lets cut taxes!

I'd be happy if the Dems just didn't spend it.

Agree except for the word "Dems." There is guilt on both sides of the aisle... I think it's like putting solar panels on a house without insulation.

There's a tough pickle here... I read the other day that a gallon of gas in Afghanistan costs nearly $600... I'm not sure how that figure is supported, but it's more likely true than not. One of the biggest challenges I see is that we will likely have to increase spending on defense in order to get out of Afghanistan (and to really get out of Iraq).

I don't think there is any solution aside from just leaving, which is a solution nonetheless. it's very unlikely that we will do so, but when Karzai made himself beholden to Iran by taking the bags of cash it set us back in terms of achieving our vague goals anyway.

I agree Pez both side gotten us in this deficit mess. However, Barney Frank and Peloski were looking at these funds especially coming back to the treasury for more stupid spending. So in this case I stand by my if the Dems don't spend it comment.