On 7 Dez., 18:32, Don Johnson <[email protected]> wrote: > Here it is.
I want my money back. > > -Don Hang on a minute, Don, there's something here I might be getting wrong, but I don't think your call is accurate. (Let me state right at the beginning that, as a non-US citizen, I don't intend to go into the rights and wrongs of particular use of particular funds. This is an issue of comprehension - my comprehension, which may be wrong.) As I understand it, in August the White House estimated the cost of TARP over the next ten years at $341 billion, and the present estimate is that TARP will actually cost $200 billion less over the next ten years (an average of $14.1 billion anually, rather than $34.1 billion). To the best of my knowledge, the US houses of parliament - in common with most democracies - vote a budget annually. In the annual budget, the government estimates the costs for the public purse for the next twelve months and then presents its plan to cover these costs; so much should be raised by taxation, so much should be borrowed, so much by selling off assets, etc. Parliament then approves (or amends) this. So, given the reduced estimated costs of TARP, it is projected that the annual deficit caused by TARP over the next ten years will be considerably less than was originally estimated. The basic question regarding a jobs programme is whether it is desirable to fund this over a larger deficit or not - since the budget is not going to be on the plus side any time soon. But ... and this is my basic point ... you can't have your money back, because you haven't paid it yet! Whether you pay, and how much you pay, is a decision taken every year with the parliamentary approval of the annual budget. Projections for the cost of TARP are basically planning instruments, used to help put the budget together. Francis -- You received this message because you are subscribed to the Google Groups ""Minds Eye"" group. To post to this group, send email to [email protected]. To unsubscribe from this group, send email to [email protected]. For more options, visit this group at http://groups.google.com/group/minds-eye?hl=en.
