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>85% of the $14 Trillion deficit over the past 3 years was not any items you described but these items: -TARP TARP was $300B, of which the government will reco
by redthrowaway 15y ago
>85% of the $14 Trillion deficit over the past 3 years was not any items you described but these items: -TARP
TARP was $300B, of which the government will recover all but $25B, according to the CBO. The "bailout" in general (considering all acts that fall under that umbrella term) consisted of about $3.5T in payouts, the vast majority of which is expected to be recouped.
Also, you're confusing debt with deficit. The debt is $14T, the deficit is just over a billion. Your 85% figure appears to have been drawn from your sphincter.
- smcl 15y ago>> The debt is $14T, the deficit is just over a billion The US budget deficit is far more than $1 billion. http://www.bloomberg.com/news/2011-03-10/u-s-had-record-222-5-billion-monthly-budget-gap-in-february.html http://www.bloomberg.com/news/2011-03-10/u-s-had-record-222-...
- redthrowaway 15y agoI meant trillion.