Another highlight from Congressman Barney Frank's meeting with reporters this morning: Frank said that most of the $700 billion allocated for TARP is "going to be repaid" and it's a mistake to compare the "hundreds of billions spent the TARP and the hundreds and hundreds of on Iraq, which isn't coming back." He added:
The war in Iraq has been enormously expensive. The Cold War weapons we are building now are enormously expensive. The biggest ongoing threat, I believe, to fiscal sanity in this country is an open-ended ever-expanding military budget.
Frank has called for a 25 percent cut in Defense spending in the past.
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