November 30, 2010

THE NEW MATH

I didn't support the bailouts. My belief was, and still is, you can't privatize your profits and socialize your losses.

However, a report recently released by the Congressional Budget Office (a non-partisan organization, by the way) says that the $750 Billion spent on TARP ended up only costing taxpayers $25 Billion.

Earlier this fall, most people laughed when the Obama Administration said that the amount would be $50 Billion, the belief that it was just a bit of a "Rosey" estimate.

So taxes are the lowest they've been since 1960, the economy is, slowly, coming back to life, and (among other accomplishments of the Obama Administration) TARP pretty much did what it was supposed to do, yet it's the Republicans who have been given the reins?

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