I believe this is counted by the democrats as half of the $1.3 trillion “bush” deficit inherited by obama
remember that the democrats (and the “Office of the Presdident-Elect”) were frantic to get Bush to release ALL of this $700 Billion BEFORE obama took office, half of it just 3 weeks before obama took office, so he could “hit the ground running” and so they could blame the entire $700 Billion last minute spending on Bush...which the “gentleman from Texas” in typical patrician Bush noblesse oblige, obligingly provided to his good friends Pelosi Reid and his successor
Remember in December 2008 the democrats were frantic to have a huge slush fund of TARP money for Barry to shovel to GM and the UAW even though govt takeover of GM was NOT the intent of TARP when it was voted. But the lame duck Bush obliged them and continues to take the "blame" for the "Bush deficit". Although nearly all of the TARP was subsequently paid back in 2009/10 (not the GM part), no democrats subtract it from the “Bush deficit" that barry continues to claim he "inherited" ”
democrats want us to believe the entire US deficit is caused by "the rich" not paying enough tax - because of George Bush
When the banks paid back the TARP funds that were “loaned” to them, what happened to this money? Was the TARP funds borrowed by the federal government? When the TARP funds were paid back by the banks did this money go towards paying down the national debt or did it instead go toward new spending?