Tarp could cost taxpayers more

The Congressional Budget Office has raised its estimate of the ultimate cost to taxpayers of the $700 billion Troubled Asset Relief Program (Tarp) by 51%.

The office is now budgeting for Tarp to cost the taxpayer a total of $356 billion, up from an estimate of $189 recorded in January.

$336 billion of the loss is expected to be realised in 2009 and $20 billion in 2010.

The office published the revised figures in its Preliminary Analysis of the President's Budget and an Update of CBO's Budget