Diary

Obama and inherited debt

During his Q&A with the republicans in Baltimore Obama referred to debt that he inherited form the previous administration( which included TARP ). This morning I called my senator’s office (Bill Nelson) to find out the dollar amount that had been paid back if the TARP money. By my thinking if Obama can claim that the $700 billion was inherited debt then anything that has been paid back should come off that inherited debt. On the other hand the stimulus money was under his watch therefore that $787 billion plus the now added $75 billion is his debt. I was told by a Nelson aide that the amount of TARP funds that has been paid back has been labeled confidential by the Federal Reserve.