Next In Line In The Bailout Aisle: The Bailout!

Land speed record for government program financial failure?

…the Bush Administration’s latest $6 billion bailout of GMAC, bringing the first round of the GM bailout total to $23.4 billion, pushes the total money committed by the Troubled Asset Relief Program past the initial $350 billion authorized by Congress. In other words, TARP now has now made specific promises to spend more money than it actually has the authority to spend. The bailout is now in need of a bailout.

Heritage Foundation via Michelle Malkin.

theroadtorecoverySubscribe to Jane’s daily email.

Subscribe to Jane Q. by RSS Feed

Comments Off on Next In Line In The Bailout Aisle: The Bailout!

Filed under Bailouts, Economy, George W. Bush, Taxes

Comments are closed.