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Obama Claims ‘We Got Back Every Dime’ of Bailout Money on Same Day CBO Reports $24B Loss

Tuesday, October 16, 2012

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“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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