It seems that many analysts and commentators are so caught up in their own political views that they have a lot of trouble with the facts. For example, their is a lot of misunderstanding about the TARP funds.
There are very clear rules concerning reappropriation of funds once used. As has been clearly stated by the administration and as is required by law, funds once used and returned, are returned to the US Treasury. The net result of that is clearly one of reducing the deficit. However, funds appropriated and not used are still available for use.
When the Administration talks about using TARP funds, it is not talking about using funds returned by the banks but about using funds that were appropriated and not used. Now, these monies are available for use and always were. Certainly, it is appropriate to use them in the time period and for the purpose appropriated. If the administration asks for and gets an extension of the times period authorized for use or if it can get the congress to change the rules regarding use, these are legal uses. Clearly, one may object to using these funds but what I find disturbing is when commentators on national TV shows don't seem to understand what they are talking about.
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