Extra TARP Money? What Extra TARP Money?
Obama is making headlines today with his announced intent to use “extra” TARP money on more economic “stimulus” money. According to Obama, there’s $200 billion just sitting there in TARP and he means to spend it in the same way the “stimulus” money has been spent.
Now, setting aside for a moment the abject failure of the billions we’ve already spent on his “stimulus” schemes, maybe we should be asking why Obama thinks there’s extra money in TARP. As CNN reported:
The American public is still expected to incur a massive loss in the end—the question is just how much it will be. A separate estimate issued earlier this year by the Congressional Budget Office warned that TARP will ultimately cost taxpayers approximately $159 billion.
So Obama is going to take $200 billion out of a program that was already projected to lose $159 billion and call it…profit? More money for more spending?
More fiscal sleight of hand from Obama that, ultimately, will just bring us more deficit and debt.



