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throw good money after bad

Waste more money in hopes of recouping previous losses, as in Hiring him to improve that software is throwing good money after bad; it's based on an older operating system and will soon be obsolete. [ Late 1800s ]
The American Heritage® Idioms Dictionary
Copyright © 2002, 2001, 1995 by Houghton Mifflin Company. Published by Houghton Mifflin Company.
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