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and a question. The tarp spending, supposedly repaid (probably some has been). Where does that show up in the budget? Was it ‘credited’ towards 2k9, 2k10, or is it just slush in Obama’s stash?
and a question. The tarp spending, supposedly repaid (probably some has been). Where does that show up in the budget? Was it ‘credited’ towards 2k9, 2k10, or is it just slush in Obama’s stash?
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Someone else likely has a more complete explanation for this.
But in general, once a huge spending bill like this gets passed, what happens is that the money shows up in the budget as it actually gets spent (the nice way to say ‘pissed away’) in each fiscal year.
Further, Bush spent about half of the $700 billion TARP, and left the other $350 million for Obama, which will show up in the budget as it is spent.
Now I’VE got a question:
http://abcnews.go.com/Business/Politics/story?id=8127005&page=1
The chief IG for TARP says the government may well end up spending $23.7 TRILLION under TARP if loans don’t get paid, etc. Given that “only” a trivial $700 billion was authorized by Congress, where in the world did the other $23 trillion come from???