Monday, February 13, 2012

President Obama's 2013 Budget Would INCREASE Taxpayer Losses on TARP

Didn't we already pay for these things once? I gotta watch "Too Big to Fail" again on HBO to find out.

President Obama’s fiscal 2013 budget proposal touts the administration's recent long-shot mortgage refinancing proposal and says the White House's increased emphasis on the housing crisis will lead to larger taxpayer losses from a 2008 emergency bailout fund.

The budget, as expected includes a call for broadening the availability of refinancing options for borrowers who are current on their mortgages but owe more than their homes are worth. The administration said it plans to finish doling out unspent funds for housing assistance, which is likely to increase the costs of the emergency financial bailout by $20 billion -- something that is likely to generate criticism from Republicans for increasing taxpayer costs.

HOUSING: President’s Budget Would Increase Taxpayer Losses on TARP - Stacy Kaper - NationalJournal.com

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Breaking US Dollar Collapse News

What's Behind the Decline of the US Dollar?

This is one the of the best and simplest explanations we have seen:
The U.S. dollar's downward slide is accelerating as low interest rates, inflation concerns and the massive federal budget deficit undermine the currency. - Wall Street Journal, April 23, 2011
Interestingly, the Federal Reserve is responsible for, or an active participant in all three of these factors.