Point - Counterpoint - two items from CNS News

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About that Bailout -- from CNS News:
Obama: �We Got Back Every Dime� of Bailout;
CBO: Bailout Will Lose $24 Billion

President Barack Obama said on Thursday that �we got back every dime we used to rescue the financial system."

According to the Congressional Budget Office, however, the government will lose about $24 billion on the bailout.

�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 (PDF file) -- 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.
They are just down to lying through their teeth -- nothing to run on so lie lie lie... Here is more of the same -- from another CNS News story:
Michelle Obama: �We Are in the Midst of a Huge Recovery�
First Lady Michelle Obama said in a radio interview on Friday that the United States is in the �midst of a huge recovery� because of what �this president has done.�

Pablo Sato, co-host of Pablo & Free on WPGC 95.5, a Washington, D.C.-area hip-hop radio station, asked the first lady: �Mrs. Obama, you know what, in your words, tell us what you think the state of the union is in right now?�

Mrs. Obama said, �I mean, we are seeing right now that we are in the midst of a huge recovery. Right? Because of what this president has done.�

Free: �Yes.�

Obama: �Pulled this economy from the brink of collapse when we were losing 800,000 jobs a month. Now were gaining every -- throughout most of his presidency, we�ve been adding jobs to this economy because of what he�s been doing. The stock market has doubled. Housing prices are rising. Foreclosure rates are lowering. But in the face of that, you still have people trying to convince us that things aren�t better.�
Living in Cloud cuckoo land in the purest sense -- deranged.

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This page contains a single entry by DaveH published on October 15, 2012 5:48 PM.

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