White House might cut deficit with TARP funds, sources say
The Obama administration is considering using funds from the Troubled Asset Relief Program to reduce the deficit, sources said. The Office of Management and Budget asked all departments to either cut their budget by 5% or freeze it. The Treasury said about $210 billion in TARP funds is unspent, and $50 billion is expected in repayment shortly.
Wall Street Journal, The
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This story published in CPA Letter Daily on 11/16/2009
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