August 14th, 2009
03:00 PM ET
5 years ago

Cafferty: Obama’s transparency promise on bailout, stimulus $

 When it comes to stimulus and bailout money, has Pres. Obama kept his promise of transparency?
When it comes to stimulus and bailout money, has Pres. Obama kept his promise of transparency?

(CNN) – Pres. Obama has been promising the American people transparency ever since he was on the campaign trail.

And, when it comes to the $700 billion dollar bank and auto bailouts, known as TARP, and the $787 billion economic stimulus package, the president vowed an unprecedented level of openness.

A lot of information has been made public through websites like recovery.gov and financialstability.gov. The administration calls these sites “pioneering” compared to how government worked in the past.

But we’re talking about almost $1.5 trillion dollars here – and there is key information that the public doesn’t know about how and where this money is being spent.

To read more and contribute to the Cafferty File discussion, click here.


Filed under: President Obama • Stimulus
soundoff (58 Responses)
  1. republicans = American Terrorists

    Was there any transparency during the bush administration, i mean even now we are finding out more and more how America was duped by him and cheyney.

    August 14, 2009 03:27 pm at 3:27 pm |
  2. Mississippi Mike

    It's hard to make massive power grabs in plain sight. Obama promised transparency but he can't deliver on it yet because he hasn't achieved his goals. Unfortunately some of his goals, like socialized health care, have to see the light of day before being achieved and the public doesn't like what he is up to.

    August 14, 2009 03:27 pm at 3:27 pm |
  3. Eric in St. Paul, MN

    Hey Jack – please make sure to report the progress banks have made in repaying TARP funds. A simple Google search shows that over $71B has been repaid. If you include the repurchase of bank shares, we stand to make a tidy profit once at least 75% of these dollars have been paid back!

    August 14, 2009 03:28 pm at 3:28 pm |
  4. Thank You President Obama!

    President Obama has held numerous town halls (unlike bush), displayed everything on the whitehouse.gov website. What more do people want? We had a virtual blackout of information when bush was president.

    August 14, 2009 03:29 pm at 3:29 pm |
  5. Susan

    A lot of it has NOT been spent yet, and this President is far more open than anyone ever has been. Think about Bush's secret military, secret torture prisons, secret spending in Iraq, secret upon secret upon illegal secret. I'll take Obama any day.

    August 14, 2009 03:30 pm at 3:30 pm |
  6. Darko

    Obama indeed does have a new brand of govt transparency...it's called 'Opaque'

    August 14, 2009 03:30 pm at 3:30 pm |
  7. jon

    President Obama's administration has so far been the most secretive one I've ever seen. Time and time again it has been proven that his public messaging has nothing to do with what he's actually doing.

    August 14, 2009 03:33 pm at 3:33 pm |
  8. Mike

    obama gave our tax dollars away including the tax dollars that our grandchildren have not earned yet and put no restrictions on where, when or how the money would be used. Heck, the government cannot tell us where, when or how the money was spent because all they wanted to do was pay back the unions for supporting obama. This is the most corrupt government in our history. We had better put normal people in elected offices before the crooked lawyers in charge make this country into a third world dictatorship.

    August 14, 2009 03:33 pm at 3:33 pm |
  9. Peggy - TX

    Our President is Awsome

    August 14, 2009 03:35 pm at 3:35 pm |
  10. aware

    Obama lies! He is totally untrustworthy! :(

    August 14, 2009 03:45 pm at 3:45 pm |
  11. Melissa

    Just because this President doesn't tell you absolutely everything does NOT make him "non transparent". This is the most transparent President in at least the last 100 years. Yet its still not enough for some people. I say "let it go already".

    August 14, 2009 03:45 pm at 3:45 pm |
  12. Alfred E. Neumann

    Transparency? Looks more like a smoke screen.

    August 14, 2009 03:50 pm at 3:50 pm |
  13. Matt

    Hey Jack... you're making it sound like Obama needs to be transparent about "his" spending, like TARP and the Auto Bailouts that you are lumping into that scary $1.5 trillion dollar figure, without mentioning that those two occurred in 2008 under Bush. You should reword that to say Obama should be "more" transparent about the $787 Billion Stimulus and he should also show us where the half trillion dollars Bush spent went to. Many people aren't smart enough to know when these things happened, next thing you know, your question will cause Palin to make another Facebook entry.

    August 14, 2009 03:55 pm at 3:55 pm |
  14. Eddie

    Obama's "transparency" is AWOL (in fact, it never exisited) I will need give only ONE illustration:

    I bet all the Libs on staff at CNN are scratching their heads today after they came out with; "Obama's big problem in Big Sky country" this morning.....stating just how difficult it would be to find any support at all for Obama's scheduled "Town Hall Meeting" today. Well, I was just watching this "staged Obama love-fest"....(had to turn it off, elnausea) not anyone in the building had anything but kudo's and kisses for the annointed one! Not one "hardball" question, everything being read off the teleprompter! Why CNN.....how could your investagative reporting have gotten it so wrong!!?? NOT STAGED???? BALONEY!!!

    August 14, 2009 04:06 pm at 4:06 pm |
  15. Mark Baker

    Mr Cafferty you say...
    "there is key information that the public doesn’t know about how and where this money is being spent."

    Care to elaborate on this? I mean how many Administrations have really showed where our tax dollars are spent?

    Obama's Administration is providing far more information about its programs and goals than any other administration in American history and you got the nerve to try and say Obama's Administration is not transpearent? Stop trolling people.

    August 14, 2009 04:06 pm at 4:06 pm |
  16. Proud Member..Party of No

    Obama's "transparency" is an absolute joke. Not only are they not "transparent" but they are deceitful on an almost everyday basis. It's truly appalling how this administration can say one thing one day and completely deny it the next. Unfortunately most of the media is so invested in Obama that they refuse to expose him but the American people are catching on anyway.

    August 14, 2009 04:09 pm at 4:09 pm |
  17. jean

    Oh no not Jack! Here we go again! Bash Obama, it'll get you new men some attention. Knock it off Jack!

    August 14, 2009 04:11 pm at 4:11 pm |
  18. Capt Smash, Salt Lake City, Utah

    no

    They need to bring some Flash Cards for the low information voters that attend these town halls. They all need to be hooked on phonics because all they do is watch Fox News!

    These people can not think for themselves and Cox and Friends give them the talking points for the day. Mr. Rush Limpballs helps everyone stay on message with Anti-Semitic talking points about Obama, Nazi’s and the Jews

    August 14, 2009 04:18 pm at 4:18 pm |
  19. Paul C.

    I agree that $1.5 trillion dollars is a tremendous amount of money but everyone is losing sight of the fact, is not objecting, that we have spent $1 trillion on a useless war in Iraq.
    If we cut short our fiasco in Iraq the money we save will go a long ways towards health care and I for one would rather spend our money on health care than on senseless wars.

    August 14, 2009 04:21 pm at 4:21 pm |
  20. J.P.

    When can I see his transcripts and his college student aid paperwork? Who funded his education?

    When can I see is writings from his time on Harvard Law Journal?

    When can I read and review some of his work as a young attorney?

    If I were to raise money to have lovely monument, statue or tribute to be erected at his place of birth, can you give me the exact address so we can begin preparing the site?

    August 14, 2009 04:21 pm at 4:21 pm |
  21. Post always rejected by CNN

    Well just answer this one...where in hades did the 787 billion go that bush gave out in a hurry before he ended his "reign" . No one....not one republican will answer where one penny of that money went. In fact they said they didn't have to tell the public. How's that for transpanency......pretty good huh huh,

    August 14, 2009 04:27 pm at 4:27 pm |
  22. Shawn - GA

    What this is about is broken promises, there seems to be more and more of these piling up everyday.

    The constant compairing to the Bush admin is beyond old. So this admins is bad but not AS bad? Stop already it is the middle of August and it is time to take ownership. Timelines were given promises were given and it seems daily these are being revised and altered.

    August 14, 2009 04:30 pm at 4:30 pm |
  23. Rob

    One word. One word that will come to describe everything regarding this administration...BROKEN

    August 14, 2009 04:32 pm at 4:32 pm |
  24. Aaron owings mills md

    From my vantage point, President Obama has been very open and honest with the American people from the inception of his candidacy and presidency. He has never lied to people about his policy agendas and how he will implement them. I challange anyone to suggest otherwise. This man has been the most transparent U.S. President in the history of this country.

    August 14, 2009 04:41 pm at 4:41 pm |
  25. joe

    Amazingly the President that brought the term "transparency" into almost every speech he made has failed to be transparent on anything. Sorry Mr. Obama, a website it not transparency. We recently learned that both France and Germany are out of recession and have spent a fraction of what we have. China and India are building roads, bridges and tunnels – something we were told we would. Mr Obama, where has the money gone? Where are the jobs you promised? Where is the new green industry? Has anyone entered into a PIIP transaction? Retail sales are falling, unemployment continues to increase as do foreclosures and we find Mr Obama campaigning for a plan most don't want. Transparency is not being on TV all the time Mr. Obama – I feel like a sucker having voted for you.

    August 14, 2009 04:44 pm at 4:44 pm |
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