By MARTIN CRUTSINGER
AP Economics Writer
WASHINGTON – Stock sales are helping the government offset projected losses from its $700 billion rescue of the financial system.
The Treasury Department has brought in $35 billion in revenue over two years, boosted by ongoing sales of Citigroup stock, new data released Friday showed. But the Congressional Budget Office projects taxpayers will still lose $25 billion for bailing out the financial sector and U.S. automakers.
The new total for revenue generated by the Troubled Asset Relief Program is up from the nearly $30 billion in income shown in the previous report covering the program’s finances through October.