Sunday, January 17, 2010

Another economic lie

President Barack Obama expressed confidence Saturday that lawmakers would approve his proposed tax on banks to recover bailout money, despite opposition from Republicans and the financial industry.

That's a lie.

If it doesn't pass, it's because of opposition by Democrats, including the Democratic chair of the senate finance committee.

Of course, this all ignores the question of why the administration's economic team didn't negotiate repayment obligations before the money was given away. Anyone with real world experience knows you negotiate the terms of a loan before you write the check.

No comments: