Posted by: arnegrim | December 8, 2009

Obama rewriting law…?

Or is he simply trying to pull a sleight-of-hand?  So much for a ‘transparent government’.

“Under law, any paybacks to the bailout known as the Troubled Asset Relief Program must be used to reduce the deficit. But in an economic speech on Tuesday, the president sought to have it both ways. Increased repayments from banks to the Treasury will reduce the deficit all right, but it will give Congress the budgetary room to spend more – and the president encouraged just that.”

“he conceded that the TARP program was “launched hastily under the last administration,” and argued the policy was flawed… Obama backed that package.”

http://hosted.ap.org/dynamic/stories/U/US_OBAMA_JOBS_FACT_CHECK?SITE=ALMON&SECTION=HOME&TEMPLATE=DEFAULT

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