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."
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.