Saturday, October 23, 2010

TARP Has Worked Out Well

Turns out the Troubled Asset Relief Program, or TARP, has done rather well for the government. People will always debate whether TARP was truly necessary in the first place. Detractors from across the political spectrum will always claim it did not have the desired effect. But one of the biggest gripes about TARP, an argument especially dear to the American Right, was that it was going to add greatly to the national debt. Stop the bailout, they foamed.

Turns out it won't. BusinessWeek, no liberal hotbed, reports that taxpayers are enjoying an 8.2% return on their investment, a far higher return than on 30-year Treasury bonds. And you thought that Marxist from Kenya was just giving the money away. You know, 'cause he wants to destroy America. 

Public perception has yet to catch up with reality. And in this nutty election season, the disconnect is especially wide. The Democratic Party's inability to get its message, and its accomplishments, across to the public is frustrating. Many have emotionally innoculated themselves against reason and evidence, especially those who insist on having their feel-good pout. They are not going to let little things like facts get in the way.

I'm looking at you, teabaggers.

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