Obama to Use $200 Billion From TARP to Create Jobs

December 7, 2009

(ChattahBox)—What should the Obama administration do with an extra $200 Billion in Tarp funds? Use the funds to create jobs or apply it to the out of control federal deficit? With a double digit unemployment rate the answer should be a no-brainer. Jobs, jobs, jobs. And President Obama is choosing to create jobs with the funds from the Troubled Asset Relief Program, by investing in further stimulus programs. The President plans to propose his plan in an economic speech before the Brookings Institution on Tuesday.

With financial institutions paying back the TARP funds more quickly than expected, the Obama administration now has some funds that could be used to stimulate the economy. Further public building projects and other job creation programs could be implemented.

White House Communications Director Dan Pfeiffer characterized Obama’s jobs creation proposal, as just one part of a comprehensive strategy to get Americans working again:

“On Tuesday, the President will outline some key priorities for encouraging businesses to invest and create jobs. This is another stepping stone in a continuous effort to jumpstart job growth. The American people should be assured that until Americans are working again our focus will continue to be job creation. We don’t think there is one silver bullet, one plan, one speech or a singular piece of legislation that alone will solve double-digit unemployment. And the President’s speech will not represent the totality of our plans for continued economic recovery.”

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One Response to “Obama to Use $200 Billion From TARP to Create Jobs”

  1. About billion, obama, tarp funds, bailout funds, tarp money | Find me About on December 7th, 2009 9:21 pm

    […] (chattahbox)—What should the Obama administration do with an extra $200 Billion in Tarp funds? Use the funds to create jobs or apply it to the out of control federal deficit? With a double digit unemployment rate the answer should be a no-brainer. …Read Original Story: Obama to Use $200 Billion From TARP to Create Jobs – ChattahBox […]

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