Paying Back the Taxpayers

It was reported this morning that President Obama wants to make sure that the taxpayers are paid back the $700 billion the government provided to troubled financial sector. This is a fine position to take. But I have to wonder, even if the financial sector pays the money back, will the taxpayers really be repaid? Or will it be the government that is repaid?

The $700 billion, if and when it gets paid, undoubtedly will be absorbed by the government and in the end, simply be entered into the ledgers. I suspect it would be a waste of time to stand by the mailbox waiting for a check from the financial sector. I will simply save myself some aggravation and assume it is the government that will be repaid, not the taxpayers. When it comes down to it, "paying back the taxpayers" is little more than a figure of speech. Taxpayers will not see a dime of that $700 billion.