Bailout Costs $200 Billion Less (Supposedly)

According to the Associated Press,

The Obama administration will lose $200 billion less than expected from the federal bailout program and is looking at using part of the savings to fund new job creation efforts.
- WJZ (Baltimore)

Oh $200 billion dollars less. That's nice, seeing as we still spent $141 billion dollars that we didn't have. If you are or I spent money we didn't have we would go to to jail for check kitting, but the Government does it all the time.

The official, who spoke on condition of anonymity because the administration's new projection has not been released, said the lower estimate reflected faster repayments by big banks and less spending on some of the rescue programs as the financial sector recovered from its free fall more quickly than the administration originally expected.

The administration had made the $341 billion estimate as part of its midsession budget review released in August.

The official said the new estimate will become part of the administration's new budget - meaning it at least some of the savings will be used to reduce the government's projected deficit - which President Barack Obama will present to Congress in February.
- WJZ (Baltimore)

Oh so we did spend the original $341 billion initially reported, but borrowers repaid it faster then expected. I see, that still doesn't excuse the hot checks our Government is writing. Nor the bad example they are setting to all American's, who need to learn to live within their means rather then overspending, because they want something now, rather then waiting till they have the cash for it.

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