Wednesday, November 16, 2011

Auto and TARP Bailout Cost to Taxpayers: $81 Billion

The Detroit News has reported that the Auto Bailout cost to taxpayers has been boosted to $23.6 billion, and the cost for the Troubled Asset Relief Program has been increased to $57.33 billion.

Once again, government has demonstrated to us that, no matter how bad something may be, and no matter how expensive it might be to "fix" in the private sector, it will ALWAYS be worse if the government gets their hands into it. It is a simple problem, really. Either you (the business) fix your own problem with your own company's money, which encourages a certain level of personal responsibility because its your money. Or, you fix your problem with OPM (other people's money), which requires very little personal responsibility because, after all, "it ain't MY money!"

Read the story here.

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