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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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