Friday, October 01, 2010

TARP Cost Will Be Less Than Once Thought. Bailout Rage DEAD

"Even as voters rage and candidates put up ads against government bailouts, the reviled mother of them all — the $700 billion lifeline to banks, insurance and auto companies — will expire after Sunday at a fraction of that cost, and could conceivably earn taxpayers a profit.

-snip-

But the once-unthinkable possibility that the $700 billion Troubled Asset Relief Program could end up costing far less, or even nothing, became more likely on Thursday with the news that the government had negotiated a plan with the American International Group to begin repaying taxpayers."

The Tea Baggers are focused on the TARP and have used it to oust several Republicans during primaries. So when it turns out their rage was for nothing, will they atone and admit they were hyperbolic and misinformed? Nope.

Just like they complain about being "taxed enough" after a year where taxes were historically low and 95% of Americans received tax breaks, the message of the Tea Party is not about facts, it's about feelings.

They feel Obama is an outsider, not on facts, but on a hunch. They hate taxes, but fail to realize the cuts passed by Obama. They decry "bailouts" reflexively as if they could never be used meaningfully, and when programs like the TARP actually work, they don't have the balls to admit they were wrong. [They won't even admit Bush signed TARP into law]

Bit by bit the Tea Party platform, stripped of its bogus issues, is just a collection of people who feel Obama is an outsider, and for them, that is enough.

Posted via email from liberalsarecool.com

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