“The Obama administration is planning to slash its estimate of the losses from the government’s bailout package by about $200 billion, a source familiar with the matter said Sunday.
“The White House had projected in August that the $700 billion Troubled Assets Relief Program, or TARP, would lose about $341 billion over the next 10 years. But officials scaled back the estimate after once shaky Wall Street firms have been recovering much more quickly than expected. In addition, several TARP initiatives have been funded at a smaller amount than originally planned.” (Washington Post, Monday)
Next thing you know they will be calling this a successful government program.
FEE Timely Classic:
“A $5 Trillion National Debt” by Hans Sennholz