commentary on Politics and a little bit of everything else

The TARP cost will be $200 Billion less…….

In more good news for the Obama administration, and further proof that the economy is recovering….The Treasury Department reports that over the next ten years, the Troubled Asset Relief Program (TARP) fund will reguire $200 billion less than expected….The banks have already paid back $70 billion earlier than expected and the reduced need to help financial markets which have not asked for more money (and don’t want the government in their business if they take the money)……the Treasury has also made $10 Billion in interest from some of the bailout paper they invested in to prop up financial institutions….

While this sounds good…myself and others advised that all this would happen since the same thing occurred when the government came to the rescue of Chrysler and the Airline industry in the past and made money then also…..contrary to the doubtful media talking heads…all of the things done by the Obama administration and Hank Paulson going out the door were tried and true fixes to the economic problems that confronted them…..

Like anyone else..the argument will be between Congress and the White House on what to do with the money set aside, but not needed…like kids in a toy store, they will no doubt be thinking of all sort of things to spend the money on…..

The Treasury expects to recover more than $175 Billion by the end of next year…not bad ……

Look for a jobs Stimulus bill in the early spring…….

December 7, 2009 - Posted by | Breaking News, Government, Media, Politics, The Economy | , , , ,

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