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Watchdog Report Shows Taxpayers Still Owed $132.9 Billion

January 27, 2012 by  

Watchdog Report Shows Taxpayers Still Owed $132.9 Billion

According to a government watchdog, American taxpayers are still owed $132.9 billion from companies that have yet to pay after receiving Federal money for a bailout. The Associated Press reported that some of this will never be received.

The bailout that was launched at the height of the financial crisis in September 2008 will continue to exist for years, noted a report issued by Christy Romero, the acting special inspector general for the $700 billion bailout.

The AP reported that some bailout programs, such as the effort to help homeowners avoid foreclosure through lowered mortgage payments, may last until 2017. This would cost the government an estimated additional $51 billion.

The fluid nature of the stock market has slowed efforts by the Treasury Department to sell off its stakes in 458 bailed-out companies, including American International Group, General Motors and Ally Financial, according to the news outlet.

The Wall Street Journal reported that the watchdog found that exiting these investments could be difficult in coming years, due to the state of the financial markets.

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  • FIREBARAKHUSSEINOBAMA

    YES IT WILL BE PAID BACK WHEN WE GET OUR NEW PRESIDENT. WE THE PEOPLE MUST DEMAND IT OF WHO EVER TAKES OUR COUNTRY BACK. WE ARE GOING TO HAVE TO GET LOUD PEOPLE…

  • TeaThis

    Now isn’t it amazing that they don’t note the monies they will never recover period, yet alone from taxes regarding the solar energy company buddies like Solyndra that gave the millions to Zeros coffers?

    • eddie47d

      So many on this site claim to have business experience and support the business community. You must certainly realize that good companies rise and fall all the time. Some of the companies you have supported for many years go belly up and most are private companies and some have government backing. Yet you love to rip into Solyndra like it was a bad company and all the employees were crooks. It was a great business with a unique product for the future of our energy needs. It was poised to be very efficient and everything was set up to work. We all now know China ramped up their solar business and took over the market within 2 years and that tanked Solyndra and not because it wasn’t a good company.

      • http://gmail.com sancheleezy

        Eddie47 the KOOL AID drinker. In your books it is okay to lavishly throw taxpayer money to those who support the President (Obama)in power as payback and then they don’t even need to pay this money back —now there is a deal!!!! The government was not instituted to waste taxpayer money to pick winners and losers, but the free market and capitalism (free enterprise) were and someday, hopefully will be again. The bureaucracy is too large and therefore wasteful and corrupt. Smaller government and more liberty and freedom is the answer. Dr. Ron Paul espouses these ideas through his actions and speech and can be trusted.

      • eddie47d

        Obviously you are missing something since this investment was to grow America not for political influence. Sure government should stay as much out of business ventures as possible yet private businesses aren’t producing enough jobs on their own. China is killing us with trillions of investment dollars in their own country which is taking away jobs in this country. America’s companies are flush with money and still aren’t lifting all boats. When THEY put out then the government should butt out.

        • Joe H.

          OK eddie, let’s hear your excuse for Ener1 that recieved about 75 million of taxpayer money to produce lithium car batteries yet filed for bankruptcy protection yesterday!!! Adummer has a real good track record there????

          • s c

            JoeH, you need to understand the criminal mind a little better. What happened with the lithium car battery flimflam is another version of Solyndra. You move the $ from A to B. When it’s gone, it ‘never happened,’ and we’re not supposed to think about it.
            It’s a form of wealth redistribution. Wealth is transferred to Obummer’s pals, taxpayers get royally SCREWED and those big bucks can be used to ‘make new friends’ or prime an election.
            You might call it government-blessed, semi-legal (until you dig for the proof) GRAFT. As long as Obummer and Holder are in charge of what’s legal and who’s above the law, America is SCREWED.
            Don’t waste your time waiting for an explanation from ‘e’ or anyone like ‘e.’

      • dan

        It goes back to… “I AM FROM THE GOVERNMENT AND I AM HERE TO HELP”

      • RockyRoad

        I think eddie47 works for A.C.O.R.N.! LOL

        So why are you here reading this eddie47d if you never agree with any of these post? Oh I guess that is your job.

        • s c

          RockyRoad, you might be closer to the truth than you know. At this very moment, ACORN’s newly-mutated organization is setting up Colorado’s voting system so Obummer will have an automatic win there. Don’t be surprised if ‘e’ is a part of it.

    • wandamurline

      Don’t forget that the government sold our (the people’s) stock in Chrysler and we lost over 135 million on that one.

    • slapjack

      If a citizen doesn’t pay his taxes see how quick they confiscate their property.

  • Suzanne

    Ron Paul is the only one to vote for. He’ll cut federal agencies which have become dead wood.

    • http://gmail.com sancheleezy

      Well said Suzanne——THANK YOU.

  • Disgusted

    Every red cent of this should be paid back, plus interest. We the American Tax Payers are the bank and I want to charge interest on my loans – lord knows I can’t get a loan from a financial institution without being charged interest. We should be doing the same thing! The interest rate should be a high one since they were in dire straights when the money was loaned. Heck – I wouldn’t even qualify for a loan from the bank if I was in dire straights no matter what the interest rate.
    PAY US BACK!!

    • Sirian

      Disgusted,
      I agree with you fully but we may wish for what you say to come about but regrettably we have voted ourselves up a creek over the years and it’s going to take one helluva lot of paddles to get us back out of it. We made a good start back in ’10 but it’s still going to take almost twice as many this time around. Oh yes, financial institutions charge interest on whatever we borrow (if we can borrow anything to begin with) but the IRS charges at even higher interest rates than the credit card companies – go figure.

  • Veteran 4 Paul

    Ron Paul said last night in the debate. Freddie Mac and Fannie Mae should have been sold and NOT dumped on the Tax Payers to bailout. Those who create the problem then get rid of it by dumping it on those who suffer from it and loose their homes.
    We can’t keep doing the same thing again and again expecting different results. Ron Paul is a voice we must listen to in order to create a sound monetary system.
    Look at Iceland whose president refused bailouts, let the banks fail and 2 yrs later they are back on the block again.
    We can do better than this can’t we? I bet we can with Ron Paul in the White House.

    • eddie47d

      Ron Paul is usually right about many things and what you say could also be true about Freddie and Fannie. When it comes to TARP or bailout money everyone thought that all the money would be lost yet $568 billion has been recovered. That’s a sizable chunk for tax money few thought would be returned. Unless we can squeeze more out of the banks or mortgage companies then the rest will probably be lost but we can keep working on them. There is this Conservative myth that Freddie and Fannie is totally responsible for the mortgage meltdown. They only encouraged private mortgage companies to make home loans more affordable they didn’t tell these private companies to rip off the American home buyer with fancy financing. There is a new draft settlement between the banks and all the US states to correct the problems brought on by these private mortgage companies and banks. This agreement will overhaul the deceptive foreclosure practices which drove homeowners out of their homes.This settlement is worth $25 billion and will affect 750,000 Americans with bank problems on their homes. It actually doesn’t come out to much (about $1,800 each)but it is a at least something to make those banks responsible for the meltdown. The banks involved in this settlement are JP Morgan Chase,Bank of America,Wells Fargo,Citibank and Ally Financial. This agreement will also make it easier to restructure the old loans and will help another 250,000. Unfortunately it leaves out 7 million other foreclosed homeowners since the housing bubble burst.

    • http://yahoo scout

      I truly believe you are right.

  • http://wolfpack2012.net JThaddeustoad

    Ron Pauls’ platform is the answer,unfortunately,there are to many people waiting for a check from the government,he can’t win !!The vote has to go with the choice of the G.O.P….. Gingrich would be that bull in the china shop that washington needs,he does not play well with others and he is going to want eight years which means it will be very tough on the establishment… This what we need …. to upset the establishment.

  • argoman

    Even if the money is paid back to the taxpayers, it does not reduce the national debt. the gov. just spends it on something else and says to hell with the national debt. the constitution is the enemy of the federal government. the Gov. is all about the control of the “National Plantation.” We the people are being bled by Gov. vampires.

  • Raggs

    This should be proof enough that crony capitolism does not work.

  • Grumpyolman

    I would love to see the list of how many of these same companies that haven’t paid back TARP monies have paid million dollar bonuses to their CEOs.

  • r.p.

    A vote for Mitt, Newt, or Barak is an endorsement for “Cronyism” and the bailouts will continue. There is only one choice, and if we can’t act upon that nothing will change. Which one really is “The Lesser of the EVILS”?

    • s c

      r, politics in America being what it is [pimps, hookers, traitors and wannabes], how can anyone be sure THEIR candidate hasn’t already sold out just like the rest? Does not modern America PROVE that NO ONE should ever have consecutive terms?

      • r.p.

        Dear s c:

        Well it’s understood that corruption permeates our government. Anybody in the “know” understands this. But it’s not just our government that suffers this ailment. We as a society have allowed this to influence not only our government but our workplace and everything else in this country that we deal with on a daily basis. We stood by silently when we saw corruption thereby it continued to grow and now we are in an environment that promotes this in order “compete” in the open market and to even deal with the government. We’ve adopted the attitude of “Everyone Else Is Doing It, Why Not Me”.
        Bill Moyers recently stated in this weeks Moyer’s & Company. “There’s so much cronyism in our government, how does one tell who are the good guys and who are the bad guys.” That’s a good question, and it was addressed in this episode. Part of it was that now we have the capacity through the internet and we have access to the records of the “incumbants”. Their records speak volumes, and through the internet we have access to alternative news sources to which we can at least to some degree, give a proper vetting of candidates, their conduct and the legislation being proposed by them. Before the internet, what did we have? The MSM?
        The problem with term limits is it’s automatic, and we can lose some good people and have them replaced with relatively unknowns with no record or history, and it becomes a crapshoot, giving the newbie no competition for the position. Plus when you do get a “good guy“, wouldn’t you want to keep him? I personally prefer to exercise my right to impose term limits when I go to the polls and cast my ballot. But I have to be informed, as do the other voters. I don’t want that right to be taken away from me. I thank God that people like Dr. Paul (Tx), Dr. Flemming (Ky), and Mike Lee (Ut) didn’t have to deal with automatic term limits. I pray to God that the American voters begin to educate themselves and begin to exercise their right to impose term limits when they see fit.

        Live Long & Perspire: r.p.

        • Joe H.

          r.p.,
          therein lies the main hurdle!! The American voters educating themselves??? Sure isn’t anything I’d hold my breath waiting for it to happen!! the majority just vote what they hear and research NOTHING!!!

          • Raggs

            Research?.. what the hell is that? Didn’t I see that on oppie wimpy last week?

  • s c

    Part of the problem is in the fact that some people refuse to understand that we have criminals in government who think the American people are responsible for everything Uncle Scam does (spending, debt on top of debt). That fictional debt results in criminals having political careers by pretending to go through the motions of ‘fixing’ that debt.
    Does the Anointed Criminal in the W H still have people working for him who still owe the government money but they’re still where Obummer put them? I don’t understand how the American people can be in debt for things we didn’t do. HOW is it that those who get us in debt and KEEP us in debt are ABOVE THE LAW?
    People, either we MAKE Washington listen and CHANGE its criminal ways, or we REFUSE to pay that debt which WE DID NOT CREATE. We do NOT work for those worthless SOBs in Washington and we are NOT their SLAVES.

    • Raggs

      s c
      I think that you are wrong about the “slave” thing.
      Consider 50% of this country living off of the government ( taxpayer ). Consider the other 50% that pay thier taxes that have no voice in the matter.

  • guest on this planet

    THEY CANT OR WONT PAY BACK THE TAXPAYERS AND YET THEY GIVE OUT BONUSES TO THEMSELVES

  • cawmun cents

    This morning I awoke to my Solyndra Powered Alarm System TM,and slid into my Nike Jackboots TM,as I Goosestepped TM,and poured down some Soylent Green Tea TM,before climbing aboard my Chevy Cobalt TM,and drove ten miles to the Mexifornia Bullet Train TM,where I rocketed out to Whorelywood TM,to cast my vote for Americas Idol TM.

    Bon Jour!
    -CC.

    • Raggs

      Oh.. you must have missed the pelosi TM carpool?
      Nevermind it wasn’t worth the ride.

  • http://gmail.com sancheleezy

    Think this out loud over and over again until it sinks in, “RON PAUL IN 2012″, Who else even really comes close to comprehending what the problem and the solution is for the U.S.A. Get back to basics with the Bill of Rights and the U.S, Constitution and secure our rights and liberties. Less bureaucracy, more free enterprise, and more freedom and less dependence on the government. God bless and thank you all.

  • http://libertydigest tina

    study the whitehatsreport.com.

  • wrk

    i can only pray that enough folks won’t fall for the Gingrich, Romney, and obama lies. our country has never been in the kind of trouble its in now. Ron Paul is the only logical way out at this point…

  • http://yahoo scout

    And now another loser bites the dust. The battery maker Ener-del. Only 118 million lost. corruption to the MAX at OUR expense. These folks in Washington will OWE nothing. It’s all our fault this train wreck is happening.

    • Raggs

      Yeah to talk about trains how is the new system ( $5 trillion ) from LA to San mexico working out?.. Sounds like a free ride for all of those illegals that are currently walking a couple of miles. A fast track towards a dead end.
      Hell yes let’s all do this… It is the smartest thing since battery operated bicycles that run downhill.
      The only problem is is that you have to push them up hill but no matter it “saved” or “created” a government position… Yea you know environmental capacities… So what the hell is an environmental capacity? It is one of those suits that figure that if you piss on a bush you may disturb a misquito… The punn was bush but you get it.
      So the best thing to do is to play dumb and forget that anything ever happened… Sure I will.

  • Larry Owens

    Our BIG BLOATED GOVERNMENT, Wastes Billions of Dollars like it is just a few Hundred here and there. But Obozo wants more Taxes so he can Give away More FREE Money, it makes Voters happy and they vote for Mr. Clown himself.

  • http://na bert winston shaw

    Nothing is ever going to change in washington until we start putting these lying thiefing goverment officials in prision

  • Raggs

    Oh.. so who the hell pays the taxpayers the money that they are owed?
    My first guess would be the “other” taxpayers.
    Well it damm sure aint the government…. HE HE HE .
    Kinda like a dog chasing a tail?… or in this case a tail wagging the dog.

  • jopa

    How should I break the news to you folks, but the two biggest crooks in American history were Ronald Reagan and Alan Greenspan.They were the two individuals most instrumental in putting a three trillion dollar Social Security trust fund into the General Fund.Then all the folks in Washington thought they were generals and depleted the fund to where it is today.The bailouts of the auto industry, mere peanuts in todays world and it’s being paid back.Bushes bailout of Wall Street, well the jury is still out on that one.

    • s c

      Prove it, j. Your septic tank method doesn’t do anything but imply that your class warfare heroes are infallible and everyone else is flawed. More predictable, utopian CRAPOLA from a utopian crappee.

  • http://personallibertydigest Gottaplenty

    Where in the cornbread hell did you come up with that drivvel, jopa

  • jopa

    Gotta;Just Google Ronald Reagan and Alan Greenspan and there are plenty of articles on the matter.What is cornbread hell? Sounds like a good bad thing.

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