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Obama: �We Got Back Every Dime� of Bailout; CBO: Bailout Will Lose $24
Billion
By Matt Cover
October 15, 2012



Obama 2012

President Barack Obama does the sign of "The U" as he arrives a campaign
event at the University of Miami, Thursday, Oct. 11, 2012, in Coral
Gables, Fla. (AP Photo/Lynne Sladky)

(CNSNews.com) � President Barack Obama said on Thursday that �we got
back every dime we used to rescue the financial system."

According to the Congressional Budget Office, however, the government
will lose about $24 billion on the bailout.

�We got back every dime we used to rescue the financial system, but we
also passed a historic law to end taxpayer-funded Wall Street bailouts
for good,� Obama said in Miami Thursday.

The Congressional Budget Office--based on figures from Obama�s own
Office of Management and Budget---gives a different assessment.

�The cost to the federal government of the TARP�s transactions (also
referred to as the subsidy cost), including grants for mortgage programs
that have not yet been made, will amount to $24 billion,� said the CBO
report, which was released on the same day Obama spoke.
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