David Kirkpatrick

December 10, 2009

TARP costs coming in $200B under expectations

Looks like the Obama administration is going to put some toward the deficit and some toward Main Street. Given the facts on the ground, this sounds like fairly conservative fiscal policy to me. Quite a revelation after the last eight years.

From the link:

The government recently announced that the Troubled Asset Relief Program (TARP), established at the height of the financial crisis last year to recapitalize the nation’s banking system, will cost $200 billion less than expected. Obama wants that money redeployed into additional stimulus initiatives: “This gives us a chance to pay down the deficit faster than we thought possible and to shift funds that would have gone to help the banks on Wall Street to help create jobs on Main Street,” Obama said Tuesday.

Getting Main Street hiring again is key to job recovery: Small businesses have created 65% of new jobs in the past 15 years, according to government estimates. Obama’s latest set of proposals includes several brand-new measures, as well as extensions of existing stimulus acts.

1 Comment »

  1. That money should go back into the treasury.

    This is insane.

    When will Americans “get it”? You cannot spend your way out of this.

    The federal government spent $3.5 trillion during President Obama’s first year in office. This far exceeds the spending for any other first-year president.

    Business abhors uncertainty. Right now, it doesn’t know what to expect from Obama’s programs. It finds them unsettling and creating more questions than answers.

    http://anamericanidiot.net/2009/12/04/the-fix-for-the-economy/

    Comment by Ben — December 10, 2009 @ 3:39 pm


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