http://abcnews.go.com/Business/Polit...ory?id=8140184
TARP Special Inspector Says Treasury Is Keeping Taxpayers in the Dark
The total potential federal government support could reach up to $23.7 trillion," says Neil Barofsky, the special inspector general for the Troubled Asset Relief Program, in a report released today on the government's efforts to fix the financial system.
Yes, $23.7 trillion.
"The potential financial commitment the American taxpayers could be responsible for is of a size and scope that isn't even imaginable," said Rep. Darrell Issa, R-Calif., ranking member on the House Oversight and Government Reform Committee.
"If you spent a million dollars a day going back to the birth of Christ, that wouldn't even come close to just $1 trillion -- $23.7 trillion is a staggering figure."
To be sure, we aren't there yet.
The government has about 50 different programs to fight the current recession, including programs to bail out ailing banks and automakers, boost lending and beat back the housing crisis. So far they've cost taxpayers around $4 trillion.
The staggering $23.7 trillion estimate elicited concern from members of Congress and a sharp rebuke from the Treasury Department after the report was leaked late Monday.
