Wednesday, December 1, 2010
Wall Street Bailout to Cost Taxpayers $25 Billion, CBO Says
According to the Congressional Budget Office, The Troubled Asset Relief Program a.k.a the financial bailout will cost taxpayers far less than initially feared which was estimated about $700 billion. This is an incredibly good news since the bailout has received so many criticism. Now the tax payers can be relieved that they will get their money back.
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2 comments:
This surely is some good news in recent times. However, it will not have such a major impact on the consumer confidence. The on-going feud over the second bailout and the gloomy job market are some of the factors that will nullify the impact of this news.
Yashika
I agree it won't have a major impact on consumer confidence. I think what we get out of this news is that we've been overestimating the deficit as we included the financial bail out in government spending. This will somewhat reduce the estimated spending thus reduce the debt and most of all, stop the talk over the cost of this bailout
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