How exactly is Washington paying for bailouts? New report cites, "government paid for 46% of its expenditures in 2009 by issuing new debt, compared with the 10-year average of 9%."
Stu Barofsky, the man tasked with investigating Washington bailouts says: "With the potential of moral hazard and ‘too big to fail,’ the government could be setting itself up for an even more dangerous crisis in the future… The loss of confidence in the government could be one of the lasting legacies of this program."
Maybe Reagan was right… "Government is not the solution. Government is the problem."
Stu Barofsky CNN interview here.
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