The government’s top watchdog, Neil Barofsky, over the $700 billion TARP financial rescue package said the Treasury Department has "repeatedly failed" to adopt his recommendations that would make the program more transparent and accountable to taxpayers.
He will tell lawmakers on Tuesday that taxpayers are being left in the dark about what banks are doing with bailout money, don't know the value of the government's investments, and will not know the full extent of how the money is invested. [Once again, these are the folks that want to run our health care system!]
Barofsky said that while the TARP program that Congress passed amounts to $700 billion, the total federal government support since 2007 for the economy and the financial sector could reach a far higher figure of $23.7 trillion. That is approximately $80,000 for every legal man, woman, and child in the U.S.
We have no one to blame except our selves. This is blatantly unconstitutional. We're talking about nearly double the nation's GDP in debt commitments and more than thirty-three times the amount authorized by Congress. What is going on? Where was the Congressional appropriation for that $24,000,000,000,000?
For the complete article, click-on the Hill.
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