Financial institutions bailed out with TARP funds beginning last fall (under the previous administration*) have paid back $175 billion. What should we do with all this "available money" that we are now swimming in?
Well, Turbo Tax Tim Geithner has a suggestion. Let's use that money for jobs creation. That's the plan he laid out yesterday with the blessing of the Teleprompter in Chief.
Shall we address the fact that money appropriated by Congress for one purpose cannot be diverted and used for another purpose. Apparently, the administration thinks this money is theirs to use freely as they choose. Someone should explain about the legal consequences of funds misappropriation. Oh wait. Never mind. This is the administration that doesn't pay any taxes and doesn't have any consequences for that, either. So let's put that issue aside.
How about the fact that the money we loaned to all of these financial institutions to bail them out was BORROWED money to begin with. That money isn't "available." It's debt. We owe it.
Maybe we should do something completely novel and different.
Like .... uh ..... oh, I don't know. Maybe PAY IT BACK?
(* just a reminder, in case you had forgotten. Obama hasn't told us in two or three days about the whole mess he inherited from the previous administration.)