August 24, 2009 in News
The Obama administration will raise its 10-year budget deficit projection to approximately $9 trillion from $7.108 trillion in a report next week, a senior administration official told Reuters on Friday. The higher deficit figure, based on updated economic data, brings the White House budget office into line with outside estimates and gives further fuel to PresidentBarack Obama’s opponents, who say his spending plans are too expensive in light of budget shortfalls. The White House took heat for sticking with its $7.108 trillion forecast earlier this year after the Congressional Budget Office forecast that deficits between 2010 and 2019 would total $9.1 trillion.
Tags: Barack Obama, Budget Deficit, Trillions
July 21, 2009 in Office of the Special Inspector General for the Troubled Asset Relief Program
By itself, the Troubled Asset Relief Program (“TARP”) is a huge program at $700 billion. As discussed in SIGTARP’s April Quarterly Report, the total financial exposure of TARP and TARP-related programs may reach approximately $3 trillion. Although large in its own right, TARP is only a part of the combined efforts of the Federal Government to address the financial crisis.
Tags: Bailout, Banker Takeover, Banking Consolidation, Federal Reserve, Federal Reserve Bank of New York, Financial Collapse, Financial Collapse of the United States of America, Global Financial Crisis, International Bankers, JP Morgan Chase, Maiden Lance LLC, Maiden Lane II LLC, Maiden Lane III LLC, SIGTARP, TARP, The Decline and Fall of the American Empire, Trillions, Troubled Asset Relief Program
