White House Considers Using TARP Funds to Cut Deficit

Discussion in 'Politics' started by Revmitchell, Nov 12, 2009.

  1. Revmitchell

    Revmitchell
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    WASHINGTON - The Obama administration, under pressure to show it is serious about tackling the budget deficit, is seizing on an unusual target to showcase fiscal responsibility: the $700 billion financial rescue.

    The administration wants to keep some of the unspent funds available for emergencies, but is considering setting aside a chunk for debt reduction, according to people familiar with the matter. It is also expected to lower the projected long-term cost of the program -- the amount it expects to lose -- to as little as $200 billion from $341 billion estimated in August.

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  2. Revmitchell

    Revmitchell
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    This would be something I could agree with Obama on. I do hope he takes advantage of this.
     
  3. billwald

    billwald
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    Spend borrowed money to pay off a loan? The "unspent funds" ARE the deficit.
     
  4. targus

    targus
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    There is method to the dems madness.

    The unspent funds are just a giant slush fund for them to use any way they want - including but not limited to political payoffs and vote buying.

    Using a small percentage of it to "reduce the deficit" is a political stunt meant to impress us that Obama is serious about the deficit - which he is not.
     
  5. tinytim

    tinytim
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    I wonder if I can take 10 dollars in my wallet out today.. set it on my nightstand, and then borrow it tomorrow when I need to payback the interest I charged myself for taking it out in the first place...

    Will someone vote in people with common sense before all we have is common cents!
     

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