Don't confuse 'em with the facts fran! On Dec 7, 10:20 am, fran the man <[email protected]> wrote: > 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
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