Obama lying? Shocker.
(CNSNews.com) – President Obama falsely claimed that “we got back every dime we used to rescue the financial system” during a campaign rally Thursday. However, government figures reveals that his administration stands to lose an estimated $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 at a campaign rally in Miami Thursday.
However, the claim that the government has recouped all of the money it spent bailing out banks, insurance companies, and two auto makers is not even remotely true. According to a report from the Congressional Budget Office – based on figures from Obama’s own Office of Management and Budget – the government stands to lose $24 billion of bailout money.