to bill wall street for last year s bailouts. cnn s christine romans joins me now to break down the plan. christine, good morning to you. good morning. good morning. what will he be saying today? what can we expect? he s speaking right now to the senate finance committee and he s reiterating to them the obama administration s proposal that taxpayers not be on the hook for any of that so-called t.a.r.p. money that s still left over to be paid. any of those costs that it is the very people who caused the crisis who should have to pay for the crisis and that s the financial secretary the financial sector. $205 billion has been repaid to taxpayers from the bailout money, but there s still a big chunk of money that is expected to be an overall loss. so what the administration is doing it wants to propose what s called a financial crisis responsibility fee. the bailout tax, as it is known. it would last at least ten years and raise up to $90 billion. any company with over $50 billion
staggering growth of government benefits. the problem cannot be solved without major entrenchments in such entitlements. now, a new health entitlelement they say will cut costs. the government according to polls doesn t believe it and with good reason. bret. bret: even though there is the skepticism, let s say the projections about the healthcare costs and savings are accurate. i think the projected savings if they actually came to pass would be in the order of 140 some billion dollars. that is a drop in the bucket against these loads of debt and particularly against the levels of entitlement debt which is why i think after the news on social security and after the difficulty selling government bonds last week with lifted interest rates you may start as charles krauthammer fears so hear about the bailout tax. with the old song still seated and new congress not yet here
the core issue is the staggering growth of government benefits. the problem cannot be solved without major entrenchments in such entitlements. now, a new health entitlelement they say will cut costs. the government according to polls doesn t believe it and with good reason. bret. bret: even though there is the skepticism, let s say the projections about the healthcare costs and savings are accurate. i think the projected savings if they actually came to pass would be in the order of 140 some billion dollars. that is a drop in the bucket against these loads of debt and particularly against the levels of entitlement debt which is why i think after the news on social security and after the difficulty selling government bonds last week with lifted interest rates you may start as charles krauthammer fears so hear about the bailout tax. with the old song still seated and new congress not yet here