Today CBO released the latest in a series of statutory reports on transactions undertaken as part of the Troubled Asset Relief Program (TARP)—the program established in October 2008, during the financial crisis, to enable the Department of the Treasury to promote stability in financial markets through the purchase and guarantee of "troubled assets." CBO also updated its infographic on the TARP, which summarizes the most pertinent details about the program since its inception: the types of assistance, cash disbursements,

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In October 2008, the Emergency Economic Stabilization Act of 2008 (Division A of Public Law 110-343) established the Troubled Asset Relief Program (TARP) to enable the Department of the Treasury to promote stability in financial markets through the purchase and guarantee of "troubled assets." Section 202 of that legislation requires the Office of Management and Budget (OMB) to submit semiannual reports on the costs of the Treasury's purchases and guarantees of troubled assets.

Molly Dahl, Thomas DeLeire, and Shannon Mok

I was pleased to have an opportunity to speak this morning to the National Association for Business Economics about the choices our country faces about federal spending and taxes. My slides can be viewed below. The essence of my comments was the following:

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The explosive path of federal debt that CBO projects under what many observers would view as current policies underscores the need for policy changes to put the nation on a sustainable course. In response to a request from House Budget Committee Chairman Paul Ryan, CBO examined a few alternative approaches for preventing deficits from growing in an unsustainable way.