NU Online News Service, Nov. 30, 3:39 p.m.EST
WASHINGTON–The Congressional Budget Office todayreleased a report slashing its estimate of the government's cost ofbailing out American International Group to $14 billion–a steepdrop from its March estimate of $36 billion.
The new estimate was contained in a report projecting that thetotal cost of the Troubled Asset Relief Program (TARP) initiated inOctober 2008 will be $25 billion, far less than earlier estimates,including a $66 billion estimate in August. A March reportprojected a total loss of $109 billion.
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