U.S. Forecasts Smaller Loss From Bailout of Banks

As the world and the US economy begin its long but slow journey to recovery, this article in the New York Times aims to settle some nerves down concerning the use of the bailout money for financial institutions. News in the past two years or so of the money being lent to banks and other similar institutions had been floating around for a while especially with negative publicity concerning the use of that money to reward high level officials with huge bonuses.
This article portrays greener pastures relating to the use of that bailout money worth $700 billion. Recent estimates show that the Treasury Department expects to recover all but $42 billion that has already been loaned out. At an extreme level, the government is expected to lose not more than $100 billion out of the total of $700 billion planned. These new estimates are good news for the administration as it is expected to lower the administration's deficit from $1.5 trillion to $1.3 trillion. This is good news for the country, both politically and economically as it will tend to bring a level of stability to the administration which has been taking the hammer for the financial woes of the superpower.