Posted on 04/04/2009 6:30:53 PM PDT by NormsRevenge
WASHINGTON – Bailing out the financial sector will cost taxpayers $167 billion more than originally anticipated, ..
The original figure in January was $189 billion, but it is now $356 billion — ...
The CBO raised its projection because yields have increased on securities issued by the bailed-out financial institutions under the $700 billion Troubled Asset Relief Program.
That means there will be an increase in the cost of the subsidy from the U.S. Treasury's purchase of preferred stock, asset guarantees and loans to automakers, ...
(Excerpt) Read more at news.yahoo.com ...
Duh!
I never saw that coming.
Gee, do you think! And the press never cottoned on to it... golly gee.
Last several years I fretted over how my kids and grandkids were going to pay for a collapsed social security system that would hit them in the not too distant future.
Geez, that would have been peanuts compared to all of this Obama spending. Now I just wonder what the country will look like after the crash.
Wow. Never saw that coming...
Gee...Ya think?!!!!!
“Bailing out Fannie Mae and Freddie Mac — the two mortage finance giants taken over by the government in September — will cost another $52 billion this year alone, and an additional $28 billion for their activities from 2010 to 2019, says the CBO.”
How ‘bout those AIG bonuses? /sarc.
Remember, Fannie and Freddie employees began getting bonus payments last Nov. and they continue through 2010 - 7600 employees getting a total of $210 billion. They just framed them into a monthly installment plan instead of the usual one-time bonus. The same people were probably protesting in from of the AIG executives homes last month.
http://www.nytimes.com/2009/04/04/business/04bonus.html?_r=1
http://www.freerepublic.com/focus/f-news/2222630/posts
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